Benchmarking and Performance Management

Adrian Tantau (), Laurentiu Fratila () and Cosmin Grigore ()
Additional contact information
Laurentiu Fratila: The Bucharest Academy of Economic Studies, Romania
Cosmin Grigore: The Bucharest Academy of Economic Studies, Romania

Economia. Seria Management, 2010, vol. 13, issue 2, 504-511

Abstract: The relevance of the chosen topic is explained by the meaning of the firm efficiency concept - the firm efficiency means the revealed performance (how well the firm performs in the actual market environment) given the basic characteristics of the firms and their markets that are expected to drive their profitability (firm size, market power etc.). This complex and relative performance could be due to such things as product innovation, management quality, work organization, some other factors can be a cause even if they are not directly observed by the researcher. The critical need for the management individuals/group to continuously improve their firm/company’s efficiency and effectiveness, the need for the managers to know which are the success factors and the competitiveness determinants determine consequently, what performance measures are most critical in determining their firm’s overall success. Benchmarking, when done properly, can accurately identify both successful companies and the underlying reasons for their success. Innovation and benchmarking firm level performance are critical interdependent activities. Firm level variables, used to infer performance, are often interdependent due to operational reasons. Hence, the managers need to take the dependencies among these variables into account when forecasting and benchmarking performance. This paper studies firm level performance using financial ratio and other type of profitability measures. It uses econometric models to describe and then propose a method to forecast and benchmark performance.

Keywords: benchmarking; competitiveness; innovation; indicators. (search for similar items in EconPapers)
JEL-codes: M10 O30 O47 (search for similar items in EconPapers)
Date: 2010
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.management.ase.ro/reveconomia/2010-2/23.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rom:econmn:v:13:y:2010:i:2:p:504-511

Access Statistics for this article

Economia. Seria Management is currently edited by Ciocoiu Nadia Carmen

More articles in Economia. Seria Management from Faculty of Management, Academy of Economic Studies, Bucharest, Romania Contact information at EDIRC.
Bibliographic data for series maintained by Ciocoiu Nadia Carmen ().