IN SEARCHING OF SUSTAINABLE PERFORMANCE... THE ART OF BEING PERFORMANT

Gheorghe Mihaela Cristina
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Gheorghe Mihaela Cristina: UNIVERSITY OF CRAIOVA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION

Annals - Economy Series, 2014, vol. 1, 115-121

Abstract: The improvement of managerial decisions, the identification and the implementation of strategic niches allow the achievement of some performance higher levels, thus ensuring the stability of the organization and the consolidation of the position on the market, which is occupied. The analysis of a company evolution can demonstrate the importance of the integration of the performance measurement system within the objectives of the enterprise on long term, in order to use it as a warning system when the results obtained diverge from the established trajectory. As shown in the synthesis of the selected company evolution, the performance of the company isn't resumed, in a simplistic way, to superior financial-accounting results, to the stable financial equilibrium, to the capacity to generate the cash-flow needed in order to function and to be extended in perspective, but it aims all the non-financial and financial aspects of its activity. In-depth, understanding the performance term, the criteria which have to fulfil a company in order to be efficient, open new opportunities for managers, challenge them to improve new strategies of action. Each criterion shall submit to management a new area of interest, whose good management depend the marketing and development of the company. Given our aim/goal to demonstrate through a practical case how achieving and maintaining performance may be associated with a state of equilibrium, we can summarize the performance stability of a company in two words ”remanent performance” . The remanence quality distinguishes a short-term strategy from a long term strategy, between performance achievement and maintenance of a company’s performance. Remanence expresses that side of performance, consequence of a strategic, continuous, adaptive and proactive process.

Keywords: remanent performance; induced performance; resonant performance; sustainable performance; strategy; benchmarking; balanced scorecard (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2014:v:1:p:115-121

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