Performance Management Methods: A Case Study from International Industrial Companies

The main objective of the research is presentation of new methods suitable for displaying a combination of input, process and output measures, which implies the evaluation values of Key Performance Indicators (KPIs) according to their impact on the goal of international industrial companies. In the...

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Bibliographic Details
Published in:Inžinerinė ekonomika 2019-01, Vol.30 (1), p.103
Main Authors: KUZMANOVIC, Bogdan, TESIC Prof, Zdravko, TOMIC, Ivana, BUNCIC Prof, Sonja, TOMIC, Milos, SUJIC STAMENIC, Mirjana
Format: Article
Language:English
Subjects:
Companies
Decision making
Globalization
Performance indicators
Performance management
Statistical analysis
Visualization
Online Access:Get full text
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Summary:The main objective of the research is presentation of new methods suitable for displaying a combination of input, process and output measures, which implies the evaluation values of Key Performance Indicators (KPIs) according to their impact on the goal of international industrial companies. In the period of globalization, the management of international industrial companies has a problem to manage the production performance in different countries. In addition, there is a problem to create business strategies and organize effective and efficient production with the lowest costs, since there are many indicators that may have an impact on production and should be analysed in the decision-making process. This study presents a new model for performance analysing based on four main perspectives of international industrial companies. The model is presented using new methods which include Tool for Action Plan Selection – TAPS, Analytic Hierarchy Process (AHP), as well as Non-parametric Statistical Analysis with Kruskal-Wallis Test and Lab View software. The methods are suitable for defining, analysing and visualization of KPIs and their impact on company performance. Empirical part of the study is conducted in twenty international companies and research is based on assessing defined KPIs by General Management and Sector Managers. The research largely achieved the objectives which determine that measuring of KPIs has a value for international industrial companies and can influence strategies development and help in organizing efficient production with minimum cost.
ISSN:1392-2785
2029-5839
DOI:10.5755/j01.ee.30.1.16264