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The purpose of this paper is to investigate the perception of marketing managers in a transition country Montenegro with regards to marketing metrics. The paper examines the degree in which managers are familiar with the way marketing metrics are applied and how important they are in the process of making business decisions in a company operating in a Montenegro.

Data was collected during 2020 through a survey of 171 randomly selected companies and was analyzed using structural equation model and the statistical method of analysis of variance tests.

The obtained results show that managers are quite familiar with financial and non-financial metrics. Both groups are applied to a significant degree, as managers believe that these indicators provide valuable information needed during the decision-making process. Still, more emphasis is placed on the knowledge, implementation and importance of non-financial metrics compared to financial metrics. This is probably due to the specificities of the economic activities of the companies operating in Montenegro, as most of them are service companies, which is why non-financial metrics (such as consumer metrics) are the most important indicators when it comes to ascertaining the market position of the company. Additionally, in recent years the primary focus in Montenegro, as country that is still in the process of transformation from planned economy to a free-market form, has been placed on strengthening of competitiveness and advancing the market orientation of companies. This led to an increase in the importance that managers in transition countries attach to non-financial metrics.

The fact that the survey only covers companies from one country is its limitation.

The obtained results will have a significant empirical contribution, which is reflected in providing guidelines for managers on how to improve the system of measuring and controlling marketing performance, all that to strengthen the competitiveness of the company, and can serve managers of hierarchy levels in a company as guidelines for making decisions on the implementation of marketing strategy and marketing metrics, to improve business performance, multi-context customer interaction, cost-saving and strengthen competitiveness.

Obtaining necessary knowledge management and implementing marketing metrics are important conditions for consideration when it comes to the continuous monitoring and improvement of business results, increasing competitiveness and advancing the market position of the company.

The originality stems from the analysis of the interconnection that exists between marketing metrics and strategic decision-making, which is expected to be positively reflected in the development of society, i.e. strengthening the competitiveness of companies based on knowledge management achieved through the assessment of the degree of knowledge, the implementation and the significance of each of the metrics covered within this research in business decision-making processes. The paper provides insights into the extent to which managers understand the meaning of these indicators and are able to combine different marketing metrics to obtain more complex indicators, serving as necessary inputs when making strategic business decisions.

This paper aims to examine how modern small-medium enterprises (SMEs) operating in the tourism industry perceive and define corporate performance, and how they measure and monitor businesses’ achievements. Actual performance measurement activities are expected to show how (and if) companies manage the key factors that drive value creation and value erosion processes. Are effective performance measurement activities aligned with main theoretical prescriptions?

Theory and previous empirical research on SMEs’ performance is instrumentally used to identify those key factors that are supposed to drive small/medium hotels’ business performance; building on a resource-based view (RBV) framework, which provides the theoretical perspective to link resources, capabilities and actions to firm performance, a model based on the financial, the operational and the organisational dimension of firm’s success is developed through the selection of a set of consistent financial and non-financial indicators. The balanced performance measurement model is then tested via a field research study based on a semi-structured questionnaire sent to 540 selected SMEs active in the tourism sector.

The results suggest that small-medium Italian hotels, typically family firms managed by owners, tend to adopt a balanced system of performance measurement that keeps track of the financial and non-financial dimensions of hotel’s performance; customer orientation proves to be an extremely important leading indicator of non-financial corporate performance. Amongst traditional financial indicators, net profits, profitability ratios such as return on investment and return on sales, revenues for available room, occupancy rate and some cost efficiency ratios are found to be relevant, whereas extensive use is made of non-financial metrics such as customer satisfaction, number of complaints, number of new and repeat customers, employee competencies and staff abilities. Furthermore, some interesting results about frequency of measurement and purpose of measurement are also presented.

Data used in this study do not allow for a comprehensive analysis of the correlation between hotel performance and a specific measurement model implemented. Further future research that is meant to be developed will focus on the issue of addressing the nexus between firm performance and resource and capability used as strategic factors and monitored with an effective performance measurement system. The sample can also be expanded to carry out comparative analysis.

The results shed some further light on performance measurement activities actually implemented by Italian hotels. The evidence gives a contribution to understanding the relationship between critical resources and capabilities that need to be developed and effectively managed to reach superior business performance. Furthermore, the study highlights the need to design and implement a customised performance measurement model, which accounts for firm-specific resources and capabilities and sector-specific features for the hotel to properly manage those strategical success factors that can deliver sustained competitive advantage to the firm.

This research paper contributes to performance measurement literature, by suggesting that the development and the implementation of a simplified but structured and complete performance measurement system, designed on the specific needs and features of SMEs, seems to be a sensible way to improve resources and capabilities utilisation and to obtain a holistic understanding of the achievements of these organisations.

To understand human resource (HR) practices outcomes on HR decision making, strategic human resource management (HRM) and organizational performance by exploring the HR data quality along with descriptive and predictive financial and non-financial metrics.

This work utilizes the grounded theory method. After the literature was reviewed, 113 HR managers of multinational and national companies in India were interviewed with a semi-structured questionnaire. The collected interview data was analyzed with NVivo 8.0 software.

It is interesting to uncover the descriptive and predictive non-financial and financial metrics of HR practices and their influence on organizational performance. It was found that HR data quality moderates the relationship between the HR practices outcome and HR metrics. This study found that HR metrics help in HR decision-making for strategic HRM and subsequently affect organizational performance.

This study has uniquely provided the descriptive and predictive non-financial and financial metrics of HR practices and their impact on HR decision making, strategic HRM and organizational performance. This study highlights the importance of data quality. This research offers insights to the HR managers, HR analysts, chief HR officers and HR practitioners to achieve organizational performance considering the various metrics of HRM. It provides key insights to the top management to understand the HR metrics' effect on strategic HRM and organizational performance.

This paper aims to focus on the use of qualitative research methods to gain a better understanding of the performance management system (PMS) of one of the largest retailers in North America. The motivation for the research was to assess whether the PMS at one of the world’s largest retail companies was congruent with the most recent thinking and research in the management accounting literature.

Using open-ended interviews, the paper seeks to develop relevant hypotheses emerging from the dimensions of the Strauss and Corbin’s qualitative research methodology (1998). A qualitative methodology was used because it provides a structured approach and analytical techniques that can build upon existing theory and literature.

The qualitative evidence collected during the course of the research indicates that financial measures were predominantly used by the company in its PMS, and that this reliance on financial measures may be an artifact of the industry in which the company operates. The retail industry is highly competitive, and it is very sensitive to changes in customer tastes and behavior, as well as shareholder and financial market pressures. In addition to financial measures, it was found that operational management developed certain non-financial performance measures and that this development may have been a response by operational managers to wider stakeholder pressures and external influences. However, these performance measures appear to be not fully integrated in the PMS and are therefore de-coupled and relatively unimportant in, or entirely absent from, top-level decision-making.

The conclusions of the paper provide support for the concepts of isomorphism and de-coupling as found in the literature of new institutional theory.

The case study approach has enabled to explore and gain further understanding of management accounting practices, particularly performance measurement and management, in their natural setting. Strauss and Corbin’s (1998) grounded theory methodology was adopted because it provides a structured set of analytical steps and systematic analytical techniques for handling and interpreting data and theory building.

The purpose of the paper is to investigate the extent to which a model based on financial and non-financial variables predicts auditors' decisions to issue qualified audit reports in the case of companies listed on the Tehran Stock Exchange (TSE).

The authors utilized data from the financial statements of 96 Iranian firms as the sample over a period of five years (2012–2016). A total of 480 observations were analysed using a probit model through 11 primary financial ratios accompanying non-financial variables, including the type of audit firm, auditor turnover and corporate performance, which affect the issuance of audit reports.

The results demonstrated high explanatory power of financial ratios and type of audit firm (the national audit organization vs other local audit firms) in explaining qualifications through audit reports. The predictive accuracy of the estimated model is evaluated using a regression model for the probabilities of qualified and clean opinions. The model is reliable, with 72.9% accuracy in classifying the total sample correctly to explain changes in the auditor's opinion.

This study contains some limitations. First, it is likely that similar researches in developed countries set a large sample (e.g. over 1,000 firms) including more years, but the authors cannot follow such a trend due to data access restrictions. Second, banks and financial institutions, investment and holding firms are removed from the sample, because their financial structure is diverse. The third limitation of the study represents the different economic and cultural conditions of Iran compared to other countries. Future studies could focus on internal control material weaknesses or earnings management to predict audit opinion in emerging economies including Iran.

The paper has practical implications and can assist auditors in identifying factors motivating audit report qualifications, mainly in emerging economies.

The paper contributes to auditing research, since very little is known about the determinants of audit opinion in emerging markets including Iran; it also constitutes an addition to previous knowledge about audit opinion in the context of TSE. The paper is one of the rare studies predicting auditor opinions using both financial variables and non-financial metrics.

Concerns for improving governance have focused attention on the role of boards of directors in evaluating the performance of the CEOs. There have been numerous discussions about how performance and strategic management systems aid in the evaluation and implementation of strategy and improve corporate performance. However, the value of those systems to boards of directors has not been extensively discussed. The purpose of this article is to describe the use of non‐financial metrics for CEO performance evaluations and offer specific guidance as to how boards of directors can design a performance measurement system that provides a sound basis for evaluating CEO performance.

The sample for this study was drawn from Fortune magazine's America's Most Admired Companies industry list. Compensation committee reports found in 59 proxy statements were examined.

Although there are a growing number of companies using non‐financial metrics, results confirm that CEOs are primarily evaluated on financial criteria, indicating a narrow definition of corporate performance. Few attempts are made to ascertain and disclose the appropriateness of the performance measures and to demonstrate how these measures are consistent with the company's vision, mission, and strategies for long‐term performance success.

While some surveys have investigated the growing trend of using non‐financial criteria, in this survey, these criteria are examined in the context of a multidimensional performance evaluation system. Also, a framework for improving the measurement and performance of CEOs is presented. This is an important part of an overall program that should be in place to improve overall corporate governance.

The purpose of this paper is to develop a consolidated framework for government e-procurement (e-GP) performance measurement based on the importance internal stakeholders attach to performance measures and metrics, providing in-depth understanding of their interest in e-GP performance.

This study is divided into two main phases: internal stakeholder identification and consolidation of performance measures and metrics. The mixed-methods approach follows semi-structured expert interviews with questionnaires collected from 413 internal stakeholders.

Five internal stakeholder groups were identified: management, auditors, financial officers, service users, and service support staff. Eight measures and 44 corresponding metrics were consolidated, and 21 significantly distinct performance metrics were identified from stakeholders’ perceptions. As expected, financial measures were most important to financial officers, while contract management was most important to service support staff.

Although e-GP processes can vary by country, this study’s approach to developing an e-GP performance measurement framework is adaptable, offering beneficial guidelines for designing e-GP performance measurement systems.

This paper goes beyond the existing literature by magnifying the internal stakeholder roles and perceptions of importance, as reflected in the consolidated e-GP performance measurement framework. The consolidation approach with theoretical references (new public management, transaction cost economics, and institutional theory) yielded comprehensive e-GP-specific performance measures and metrics, providing a rigorous approach to measuring e-GP performance.

Business performance measurement is vital to expanding knowledge of how various strategies and behaviors affect organization outcomes. Given the recent growth of the family business research field, it is appropriate to assess how researchers measure family business performance, seeking to provide thoughts related to how to improve family business performance measurement in research. The paper aims to discuss these issues.

This study applies a systematic approach to review 338 family business performance studies published in peer-reviewed journals from 1980 through 2015.

Observations are presented from this exhaustive review, including the expansion of the family business research field, types of journals publishing family business studies, research topics, types of measures utilized, and others. In addition, potential gaps are identified and possible solutions are presented.

It appears no review of family business performance measurement in research is available. Observations from this review may assist researchers in measuring a vital metric, family business performance.

To show how the key to successfully managing alliances is developing and implementing alliance metrics.

The case of “Acme Manufacturing” (a composite of several firms) is used to illustrate the theory and reasoning behind the creation and tracking of alliance metrics appropriate to the life cycle of the partnership. These ideas are then applied to the ongoing Avnet/HP alliance.

Understanding and applying unique metrics at each stage allows management to anticipate alliance challenges and increase flexibility and adaptability when faced with changing economic and market conditions. Across the life cycle stages the partners must learn to monitor two types of measurements – development metrics, commonly employed in the start‐up and high growth stages, and implementation metrics, engaged throughout the professional, mature, decline, and sustain stages of the life cycle.

This is a case study produced by a consultant specializing in alliance management. It has been peer reviewed but has not been subjected to independent audit.

Proactively managing alliances helps partners ensure value extraction, financial and non‐financial. Development metrics and implementation metrics can help alliance stakeholders understand and plan for the stages of the alliance life cycle while considering their knowledge transfer.

As the cases of Acme Manufacturing and Avnet/HP show, an understanding of alliance life cycles, cultures, and metrics can lead to successful planning, launching, and maintenance of a company's alliances.

For over 20 years, management control literature has indicated the importance of supporting the strategy development and implementation process with strategic performance measurement systems (SPMS) and integrating traditional financial indicators with a set of multidimensional forward-looking measures focusing on the long term and linked to cause-effect relationships. Nevertheless, knowledge on the specific SPMS models used in practice and their effectiveness in supporting the managerial decision-making process is still fragmented and ambiguous. The purpose of this paper is to first analyse the SPMS models used in practice, also considering the role of strategy and firm size as drivers of adoption, thereafter analysing the capability of SPMS models to provide managers with measures that are consistent with their strategic information needs.

The research is based on a survey involving 88 Italian medium-large sized firms (or subsidiaries of multinational firms) operating on a global level.

The cluster analysis identifies two very different SPMS models used in practice. The first is the Short-term Financial Model, and as its name indicates, is based on short-term, internally focused and unconnected financial indicators. The second is the Multidimensional Additive Model, which integrates financial and non-financial measures but without a fully developed fit with the strategy. The research primarily indicates unsatisfied information needs in both clusters, presenting a significant challenge to the further development of existing SPMS models and in defining new theoretical SPMS frameworks.

The adoption of an incremental approach to SPMS, simply adding new operational and strategic non-financial measures without a real fit with the strategy does not increase the information effectiveness of the system.

The paper analyses the characteristics and use of SPMS models in practice from an exploratory perspective, defining and applying a model to evaluate the information effectiveness of SPMS.