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The purpose of the paper is to compare measures of subjective and objective knowledge as well as usage/experience measures in a credence service environment for two different samples, namely college students and non‐student adults.

Data were collected from two independent samples using self‐administered questionnaires and were analyzed using correlation and reliability analyses, factor analysis, discriminant analysis and one‐way ANOVA.

For the student sample, the results show that even though measures of subjective product knowledge, objective product knowledge, and product usage are correlated with one another, each represents one unique dimension of total product knowledge. The results for the non‐student sample show that subjective and objective knowledge converge into one dimension, product usage is a second dimension, and vicarious product knowledge a third dimension.

One limitation of the present study is that its results are anchored in the context of hospitals and might thus be most relevant to this particular choice of service. In terms of implications, the “vicarious” component of total product knowledge the study uncovers for non‐students is a promising field for future studies because it is identified as one of the dimensions of total knowledge for those non‐student consumers who have a fairly low degree of objective knowledge and direct product experience.

Marketing managers should to take into account that, for adults, subjective knowledge is a better indicator of their objective knowledge than for students (or perhaps similar segments).

The present study is one of the first studies to investigate simultaneously the three dimensions of consumer product knowledge in a credence service environment.

This paper is based upon the initial findings of a CIMA research project into the way in which corporate performance measurement systems are influenced by the use of shareholder value management techniques. It compares and contrasts the techniques in use in a sample of 10 companies that either explicitly use shareholder value techniques also known as Value‐Based Management (VBM), or explicitly do not use such techniques. The analysis undertaken is based upon the finding of semi‐structured interviews with company representatives which formed the first part of the data collection process of the project. The analysis traces the interactions between corporate objectives, decision making criteria, performance measurement systems and executive incentive schemes in order to develop an understanding of the effects of such shareholder value techniques upon corporate behaviour. The literature reviewed suggests that the other aspects of the planning and control system should be aligned with the corporate objectives whether a company has adopted VBM or not. Therefore this research contributes new evidence on the use of VBM techniques in the UK and also more generally on whether VBM and non‐VBM companies internal planning and control systems are aligned.

Describes an effort to explore the relationship between objective measures of product quality and country of origin. Consumers Union ratings of automobile maintenance performance are used as objective quality measures. Effects were examined when considering three different functions: location of headquarters, origin of parts and place of assembly. Price‐quality relationships were estimated and compared. Finally, a subjective measure of automobiles (owner satisfaction) was compared with the objective measure, across all cases and by country of origin. Results revealed objective quality comparisons differed. Both the price‐objective quality relationships and differences in objective versus subjective quality ratings varied between foreign and US vehicles. Examining the objective quality – country of origin relationship via different country of origin measures offers marketers insight in understanding the basis for apparent preferences found in some perceptual studies.

The essential investments in new product development (NPD) made by industrial companies entail effective management of NPD activities. In this context, performance measurement is one of the means that can be employed in the pursuit of effectiveness.

The purpose of this study is twofold: first, to design and implement a performance management system using third‐generation Balanced Scorecard (BSC) and statistical methods in an Iranian black carbon producer (Company A) to achieve its main strategy and vision; and second, to compare and evaluate some strategic measures of the company against those of a leading company in this industry in Iran (Company B) and those of a Thai company (Company C) to identify any possible gaps, so that the management of Company A can move toward filling such gaps.

The strategic objectives of the company as well as the measures of each perspective of the BSC were determined. In addition to studying all related documents of the company and conducting interviews, two self‐administered questionnaires were designed and distributed amongst a total of 24 managers or experts in the company. Statistical methods were used to select strategic objectives and measures.

This paper illustrates how the use of a combined approach of statistical methods and BSC could help organisations to design and implement a sound performance measurement system. Also the result of the comparison with the two companies previously mentioned revealed that the case company is lagging in most of the measures, necessitating the execution of necessary initiatives on these measures to fill the existing gaps.

The paper establishes the basis for integrating and using statistical methods for selection of strategic objectives and measures of BSC and paving the way for implementation of a performance management system, particularly the third‐generation BSC.

This study integrates statistical methods and third‐generation BSC techniques to design and implement a performance measurement system in an Iranian black carbon production company.

The purpose of this paper is to propose a quantitative methodology for setting targets in the framework of Balanced Scorecard (BSC) in order to achieve vision and goals.

Response Surface Methodology is proposed to find the significant relationships that should be included in the strategy map and the optimal values of performance measures are assessed by using the desirability function-based approach of RSM. The proposed method was created by reviewing the existing literature, modeling the problem, and applying it in an oil company. In fact, RSM is used to execute the design matrix, analyze the collected data, extract models, analyze the results, and optimize the procedures that generate multiple responses.

By applying this methodological design, a clearer picture of the relationships between strategic objectives is obtained and the influence of strategic objectives on one another is determined. Afterward, optimal values for performance measures are determined.

This paper proposes a framework for constructing a strategy map and setting quantitative targets to translate the goals and strategies into corresponding performance measures and targets. Also, this paper presents a case study to demonstrate the applicability and effectiveness of the proposed approach. However, RSM-based techniques require a greater amount of data to generate more accurate results. Although the advent of the Information Age has forced organizations’ decision makers to provide sufficient information and data for business analysis, the data requirements of RSM-based techniques are met.

In practice, the process of setting targets for performance measures can be challenging in terms of reaching a consensus between managers and decision makers. The findings of this paper can offer a new approach for performance evaluation based on the BSC which allows the organization’s decision makers to reach a more accurate picture of the relationship model between organization goals and those objectives within the BSC. It also demonstrates how decision makers can be guided in the process of defining performance target values in the BSC method.

Reviewing the literature on setting quantitative targets within the framework of the BSC showed no prior study in which RSM is used. This approach has two main contributions: the associations among strategic objectives are investigated and obtained in an effective way which analytically identifies the direction and degree of the relations among the performance measures. Considering the performance evaluation structure based on the BSC, quantitative targets have been determined to help in achieving the long-term goals of the organization. The application of the proposed method in a company showed that the contributions of this research are not only theoretical, but practical as well.

The purpose of this paper is to operationalize the subjective measures of business performance and assessing their justification for use in place of objective measures of business performance.

The study is based on a sample survey of 171 companies listed on Bombay Stock Exchange, India. A cross-sectional descriptive research design has been used. Exploratory factor analysis was used to assess the factor structure and dimensionality of objective and subjective measures of business performance. The psychometric properties of these measures and their interrelationship have been assessed through confirmatory factor analysis.

The study finds a strong positive correlation between subjective business performance and objective business performance. The study finds it justified to use the subjective measures of business performance.

Response bias may have crept in because of self-reported measure used for the study. Future researchers may cross-verify the subjective perception of respondents with data available from the records of the firms. Second, the study focuses only on financial and operational indicators of performance. The future studies may widen the scope of business performance by incorporating the interests of other stakeholders like suppliers, government, environment and society in general.

The strategy researchers confronting the challenge of adopting appropriate measures of business performance can use either or both of subjective and objective performance measures, as suggested in this study. The study has suggestions for strategic decision makers regarding measurement of business performance in terms of financial as well as operational indicators.

The study operationalizes and validates two measures of performance, namely, subjective business performance and objective business performance. The study contributes to the strategic management literature by providing evidence for association between objective and subjective measures of performance.

This study explores how balanced scorecard format and reputation from environmental performances interact to influence performance evaluations.

Two general options exist for inserting environmental measures into a scorecard: embedded among the four traditional perspectives or grouped in a fifth perspective. Prior balanced scorecard research also assumes negative past environmental performances. In such settings, and when low management communication levels exist on the importance of environmental strategic objectives (a common practitioner scenario), environmental measures receive less decision weight when they are grouped in a fifth scorecard perspective. However, a positive environmental reputation would generate loss aversion concerns with reputation, leading to more decision weight given to environmental measures. Participants (N=138) evaluated performances with scorecards in an experimental design that manipulates scorecard format (four, five-perspectives) and past environmental performance operationalizing reputation (positive, negative).

The environmental reputation valence’s impact is more (less) pronounced when environmental measures are grouped (embedded) in a fifth perspective (among the four traditional perspectives), when the environmental feature of the measures is more (less) salient.

Findings provide the literature with original empirical results that support the popular, but often anecdotal, position of advocating a fifth perspective for environmental measures to help emphasize and promote environmental stewardship within an entity when common low management communication levels exist. Specifically, when positive past environmental performances exist, entities may choose to group environmental performance measures together in a fifth scorecard perspective without risking those measures receiving the discounted decision weight indicated in prior studies.

The importance of performance measurement is largely undisputed. There is debate, however, regarding the equivalency of objective and subjective performance measures.This debate has not considered a frequently used subjective measure, satisfaction with performance, to be an important measure independent of its equivalency with objective measures. Using a sample of 368 manufacturing firms, this study found that objective measures explained only a modest amount of variance in satisfaction with performance and that other variables added significantly to the explained variance.These factors included perceived environmental hostility, vulnerability, perceived competitive advantage, and commitment.

Measuring the performance of academic departments received little attention compared to other industries due to their complex nature and difficulty in measuring their outputs. However, measures of performance are needed to assess whether they meet their set objectives and foster an environment of continuous improvement. The objective of this paper is to develop a performance measurement system for educational institutions. It outlines the properties of adequate performance measures and the steps for developing such measures in an educational environment. Three types of performance measures are proposed. These are outcomes, inputs and process measures. Suggestions are made to select the most appropriate and relevant performance measures pertinent to academic departments’ goals and objectives. Also the need, relevance and implementation issues in the context of the Saudi Arabian educational system has been discussed and highlighted in the paper.