Contents

• Introduction
• Recent Developments in Performance Measurement
• Performance Measurement Framework: Scorecard
• Performance Measurement in Third Generation
• Economic Value Added
• Impact of Financial and Non Financial Measurement Tools on Companies & Consultants
• Conclusion
• References

Description

From the recent survey it has been recognized that managers’ across the globe are rethinking of performance measurement system to give it a new appearance so as to manage business processes in the most efficient manner. This rethinking of the financial and non financial measurement models includes development of wide variety of performance measurement models which is built on competitive order and covers both financial and non financial aspects. It is believed a current review of financial and non financial performance measurement models will improve the competitive environment which meets the changing business demands and challenges. The critique is based on the current performance measurement frameworks developed in the recent years. The paper identifies the current developments and closes with research to support the new financial and non financial performance measurement framework. The new performance framework is developed to accelerate globalization and concept of product differentiation. The latter half of the paper discusses the impact of these performance measurement tools on companies and consultants.