<abstract xmlns="http://www.w3.org/1999/xhtml"><p> Modern business conditions have led to the development of a large number of different models for strategic performance management, which view performance measurement through the prism of financial and non-financial indicators, from multiple perspectives. Strategic performance management models should enable efficient and effective management, i.e. an adequate response to continuous changes in the business environment. Theory and practice in this area suggest the development and implementation of various integrated frameworks (models) for performance management of companies, in order to achieve business excellence. In addition to the well-known integrated models, such as the Balanced Scorecard (BSC), Performance Pyramid, SAILS model (Strategy Aligned Integrated Linked Scoring System), GRASP model (Goals-Resources-Actions-Structure-People), and others, Kanji’s Business Excellence Model (KBEM) and Kanji Business Scorecard (KBS) have been developed as well. Kanji’s model was created with the objective of eliminating the weaknesses and shortcomings of previous models, particularly the Balanced Scorecard. The application of multidimensional performance measures should increase the informational power of management in making strategic business decisions. The goal set by this paper is to consider some of the basic features of modern performance measurement and management models of companies that are represented in theory and applied in practice, and, on the basis of comparative analysis, to draw conclusions about their advantages and disadvantages.</p></abstract>

Modern business conditions have led to the development of a large number of different models for strategic performance management, which view performance measurement through the prism of financial and non-financial indicators, from multiple perspectives. Strategic performance management models should enable efficient and effective management, i.e. an adequate response to continuous changes in the business environment. Theory and practice in this area suggest the development and implementation of various integrated frameworks (models) for performance management of companies, in order to achieve business excellence. In addition to the well-known integrated models, such as the Balanced Scorecard (BSC), Performance Pyramid, SAILS model (Strategy Aligned Integrated Linked Scoring System), GRASP model (Goals-Resources-Actions-Structure-People), and others, Kanji’s Business Excellence Model (KBEM) and Kanji Business Scorecard (KBS) have been developed as well. Kanji’s model was created with the objective of eliminating the weaknesses and shortcomings of previous models, particularly the Balanced Scorecard. The application of multidimensional performance measures should increase the informational power of management in making strategic business decisions. The goal set by this paper is to consider some of the basic features of modern performance measurement and management models of companies that are represented in theory and applied in practice, and, on the basis of comparative analysis, to draw conclusions about their advantages and disadvantages.

A Comparative Analysis of Modern Performance Measurement and Management Models of Companies

University of Kragujevac, Faculty of Economics, Serbia

Economic Themes

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Modern business conditions have led to the development of a large number of different models for strategic performance management, which view performance...

A Comparative Analysis of Modern Performance Measurement and Management Models of Companies

Published Online: Apr 15, 2016

Page range: 298 - 313

Received: Sep 04, 2014

Accepted: Mar 27, 2015

DOI: https://doi.org/10.1515/ethemes-2015-0017

Keywords
performance measurement and management models, Balanced Scorecard, SAILS model, GRASP model, Kanji’s model

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

A Comparative Analysis of Modern Performance Measurement and Management Models of Companies

Published Online: Apr 15, 2016

Page range: 298 - 313

Received: Sep 04, 2014

Accepted: Mar 27, 2015

DOI: https://doi.org/10.1515/ethemes-2015-0017

Keywordsperformance measurement and management models, Balanced Scorecard, SAILS model, GRASP model, Kanji’s model

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
performance measurement and management models, Balanced Scorecard, SAILS model, GRASP model, Kanji’s model