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This his paper focuses on a specific aspect of Value‐Based Management (VBM), the design of performance measurement systems. This remains an important challenge not only in Management Accounting but also in Human Resources Management. Performance measurement on various levels of organisation should be aligned to value creation, and management compensation should be tied to the achievement of targets set to these measures according to VBM proponents. In the present article definitions of concepts and issues associated with the design of performance measurement systems are discussed. Furthermore, the paper presents a review of four tools available to measure and manage intangible resources: human resource accounting, economic value‐added (EVA), balanced scorecard (BSC) and intellectual capital (IC). The role of non‐financial measures is also analysed from a VBM framework. Finally, some concluding remarks are highlighted in the last section.

Research has not fully recognised the significance of employee stakeholders to the design and effective operation of performance management systems. The purpose of the paper is to demonstrate the centrality of employees within the stakeholder systems model of performance management it proposes.

Stakeholder theory is utilised to critique current scorecard‐type performance management frameworks with a particular focus on the balanced scorecard as the most popular of these. Conceptual analysis is supported by case study evidence relating to the effectiveness of performance management systems in knowledge‐intensive organisations.

The paper identifies the concept of the responsible organisation as a means of assessing organisational maturity in performance management, and links it to dimensions of organisational justice. Linkage enables stakeholder perceptions of equitable treatment to be combined with effectiveness measures in the more holistic performance management framework proposed.

The paper demonstrates the significance and application potential of the stakeholder systems development of scorecard‐type performance management frameworks. Conclusions confirm the “why” and the “how” of a more participatory role for organisation stakeholders, and why employee stakeholders merit a “first among equals” status within these.

The paper shows that the stakeholder systems approach represents a holistic approach to performance management through its incorporation of stakeholder perspectives at system design, operation and evaluation stages. The paper responds to the need for a new philosophy of performance management in an era of stakeholder accountable organisations.

Business performance management describes the processes, methodologies, metrics and systems needed to measure and manage the performance of an enterprise. Traditional performance management systems were based on financial and productivity measures but the alternate measures proposed in last more 25 years have strategic focus and incorporate variety of performance measures such as efficiency, effectiveness, productivity, quality, customer satisfaction, innovation and employee satisfaction in addition to financial. Globalization and modernization have created a business environment uncertain with associated risks which has necessitated the incorporation of various types of flexibilities such as strategic, technical, operational, information system (IS), etc. Critical success factors and implementation issues also need to be incorporated to succeed. The purpose of this paper is to present the strategic performance management system (SPMS) designed, incorporating flexibility and implementation issues, and its effectiveness empirically validated from Indian oil industry.

Based on literature review and gaps identified, a proposed model of enterprise performance management system incorporating flexibility, critical success factors and implementation issues was developed. Macro- and micro-level factors impacting the effectiveness of the model were identified, and hypotheses were developed and tested empirically from the survey study of Indian oil industry.

The finding met, by and large, most of the research objectives. In total, 7 macro- and 11 micro-level factors came out from the study. The strategy planning, strategy implementation, strategic flexibility (SF), SPMS design, information system flexibility (IF) flexibility, implementation issues and critical success factors, and performance feedback and learning are the macro-level factors impacting the SPMS effectiveness in measuring and managing performance of an enterprise. The SPMS implementation issues have proved to be major driver of effectiveness.

The research like many such researches had limited resources, data availability and bias of respondents. However, the model was statistically validated for its reliability and hypothesis testing. The research has added to literature on SPMS as integrated model incorporated SF, information flexibility and critical success factors. However, the effect of other types of flexibilities such as organizational, operational, HR, marketing, etc., and other stakeholders should also be studied in future research to broaden the findings.

The validated SPMS has practical implications for academics and researchers. Strategic and IF, and critical success factors have been incorporated in the integrated model to take care of business uncertainties so that it is strategically aligned and facilitate in effective SPMS use and implementation.

Though it has no direct social implication but, if adopted for social projects and not-for-profit organizations, it will have social benefits of efficient and effectiveness delivery of social projects and initiatives.

This is an original work carried out by the authors. The validated model along with interpretation is presented.

The critical issue in financial management is investigating the role of government in an organization's economy. Governmental facilities, loans and long-term financial plans may affect the performance of financial management systems. Financial management systems may be affected by various other factors, such as organizational, technological and governmental factors. Studying and investigating the influence of organizational, technological and governmental factors on financial management systems' performance is the primary goal of this paper.

Financial management has always been affected by the increasing role of technology. Also, the use of financial software, the entry of computer-based computing and math planning are examples of technology entry to financial management that has led to changes in recent years. Data were collected from the insurance offices through a questionnaire. Distributed questionnaires were conducted on a Likert scale. The causal model has been appraised by the structural equation modeling (SEM) method that has been utilized to assess the validity and reliability of the model. The software has been used to evaluate the questionnaire, and the hypotheses of the research are evaluated using SPSS 22 and SMART-PLS software.

The results showed that organizational, technological and governmental factors directly affect financial management systems' performance. For this reason, the role of organizational, technological and governmental factors on the success of financial management systems in insurance companies must be considered for decision-making in the future.

This study includes some restrictions required to be examined in assessing the outcomes. First, sample research was selected from the managers of the insurance offices in Harbin, China. So, the sample size is not big, and the generalization of the results is limited. Second, the current research might have ignored other variables, which affect the performance of financial management systems. Future researchers intend to investigate the impact of investments and projects on financial management systems' performance as a proposal. Nevertheless, the subsequent investigation can assess vital factors like investments and plans on financial management systems' performance.

The research also includes insurance companies and all departments and individuals associated with financial management systems somehow.

In the current article, the performance of financial management systems is highlighted, and the method to resolve the issue has been utilized as an experimental example. This article's introduced model supplies a comprehensive framework to investigate the impact of organizational, technological and governmental factors on financial management systems' performance.

Reports findings from a survey designed to measure the consistency and congruity of HR performance evaluation systems with quality management precepts in UK‐based quality‐focused organisations. Twelve a priori features of HR performance evaluation were used to measure HR performance evaluation systems. Since a fundamental reason for the purported incompatibility between TQM and HR performance evaluation is the assertion that most variance in performance is caused by system factors, and due to indications from various sources that HR performance evaluation focuses managerial attention on person factors rather than on system factors, the survey was also developed with the intention of discovering the extent to which these system criteria are used for measuring employee performance. The findings confirm that most HR performance evaluation systems fail to meet quality management expectations and contradict TQM assumptions about individual and system performance.

The aim of the paper is to trace the history and development of performance measurement and management systems in the Italian National Health System (INHS), to identify their key characteristics, and to provide a critical assessment of their implementation.

A combination of literature review, action‐research and fieldwork conducted over a ten‐year period in several Italian health care organizations.

Performance management has grown considerably in the INHS over the last 15 years. Explanations for this growth include normative, coercive and mimetic isomorphism, the introduction of quasi‐markets, the adoption of DRGs, an increased focus on clinical governance and innovative practices in human resource management.

The paper shows how performance management has been implemented in the INHS and why it can still be considered a “work in progress”.

The introduction of performance management systems has stimulated greater accountability and promoted a more cost conscious culture in healthcare organizations. Nevertheless, there are many problems that remain to be solved if performance management arrangements are to deliver the desired improvements in performance.

The paper advocates the need for reduced isolationism and increased international comparison with concomitant evaluative effort.

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.

The purpose of this paper is to explore how performance management systems in nonprofit organizations are influenced by their funding sources. It explains how resources motivate organizations to diversify their strategies with attended performance management systems.

It adopts a qualitative case study approach involving semi-structured interviews with key informants in a nonprofit organization to understand the evolving nature of performance management systems associated with different funding sources.

The findings suggest that the case study organization changed its revenue base along with its performance management systems to satisfy the reporting and accountability requirements of different funding sources. Despite external funding sources detailing different restrictions and requirements, the overall performance management system was able to manage these different expectations.

This study is based on a single case study, and its findings need to be interpreted with care, as there are differences between nonprofit organizations because they differ in their environments, services and funding.

This paper contributes to extant knowledge on how organizational performance management is influenced by funding sources, providing insights at the operational and governance levels.

This paper examines the role behavioral factors play in the successful implementation and use of performance management systems that are based on critical success factors, key performance indicators and the balanced scorecard. Case study research was performed which identified 18 individual behavioral factors to be important. The research also showed that the use stage in a systems implementation project has to be performed well in order to assure a regularly used performance management system.

The functions of a performance management system in any organization encompass diverse activities, which include the performance appraisal process. In order to design appraisal systems and appraise employees appropriately, organizations may enter into partnerships with external consultants. In addition, organizations are required to allocate financial resources to support not only the performance management system itself but also incentives for employees with superior performance. The purpose of this paper, using a model, is to investigate the influence of partnering and financial support on the functions of a performance management system. The capacity of the system to align its functions to help achieve an organization's strategic goals is also examined.

A questionnaire survey elicited responses from middle‐level employees using a validated instrument. The variables included in the study were based on prevailing practices in performance management, which include partnering (or collaborating) with professionals external to the organization, the financial support made available to the system and the alignment of the functions of a performance management system with the strategic goals of the organization. The sample comprised 165 respondents selected from six organizations manufacturing automobile components in Coimbatore, India. Partial least squares, a structural equation modeling technique, was used to estimate the influence of the latent variables.

The results indicated that partnering has a negative significant impact on: the functions of the performance management system; and alignment. Financial support has a negative impact on alignment, whereas the performance management system's overall functions has a significant positive impact on alignment. Likewise, financial support has positive significant impact on the performance management system's functions.

Employees feel that appraisals are a continuous internal assessment process best conducted by those inside their organizations. External members can appraise employees at particular points in time but these appraisals do not reflect accurately an employee's overall performance across time. Hence, employees implicitly reject external appraisers and partnering in the performance appraisal process. The appraisal process was found to have financial support by way of incentives, pay increases and the allocation of bonuses based on performance. The paper usefully confirms that organizations must strive continually to design and implement HR practices that are organization specific and employee friendly.