Proposed model for performance measurement standards

Abstract

The research proposes a standardised model for performance measurement within the context of the Balanced Scorecard. This model was based on the in-depth study of three successful manufacturing firms in Thailand, and contains a set of Key Performance Indicators with a specific circumstance. The data-collection task took place in 2005. The model development was based on the review frequency recorded from nine executives to three top executives from each company. There were a total of 18 common circumstances identified, and were further separated into two groups internal and external. Based on the follow-up surveys and other verification tasks, this proposed model can possibly be considered as a standard or a baseline when initiating performance measurement effort. Its benefits and limitations are discussed and provided.

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