MANAGEMENT PERCEPTION OF PERFORMANCE AND THE INFORMATION NEEDS OF SMALL BUSINESS

Robert Greenwood and Florence Tsang
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Robert Greenwood: Bolton Business School, Bolton Institute, United Kingdom
Florence Tsang: Department of Accounting and Finance, Lingnan College, Hong Kong, China

Journal of Enterprising Culture (JEC), 1997, vol. 05, issue 02, 209-221

Abstract: This paper illustrates that small business managers in Hong Kong and the United Kingdom over-rely on the financially related performance measures in a manner inappropriate for handling the complexities and uncertainties in the business environment. It also shows that managers must address the development of new approaches to performance measurement to anticipate market trends and respond to changing customer needs.The paper suggests that small business success is dependent upon the ability of managers to understand the external environment and match this to the internal capabilities of the business. This implies that managers will have an external focus and possess the ability to continuously develop the small business's capabilities to meet the challenges created by the external environment.The paper concludes by advocating that performance measures should adapt as businesses are affected over time by different factors. We recommend a broad approach to performance measurement which incorporates tangible, non-tangible, financial and non-financial indicators.

Date: 1997
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DOI: 10.1142/S0218495897000132

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