Innovative System for Measuring SMEs Performance

Abstract

This paper refers to the increasing interest in the development of theoretical frameworks in the area of measuring business performance, companies of all sizes have used them to test different business policies and strategies. Literature shows that these frameworks do not provide an effective and robust system, which is needed in today's dynamic market. For example, the existing frameworks do not relate to the actual strategies in place. Also, none can be considered generic, which makes any attempt of integrating measures and performance indicators virtually impossible. The authors discuss this problem and propose an efficient and flexible system for measuring small and medium-sized enterprises (SMEs) performance. A computer-based tool to select the appropriate measures and performance indicators to support the implementation process of company's strategic goals is also presented.