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Improving control through effective performance measurement in SMEs

Hudson, M.; Lean, J.; Smart, P. A.

Authors

Profile image of Mel Smith

Dr Mel Smith Mel.Smith@uwe.ac.uk
Associate Professor in Strat & Ops Mngt

J. Lean

P. A. Smart



Abstract

Research has demonstrated that the use of performance measures in SMEs (small to medium sized enterprises) is limited. Financial measures, which are required for examination by external stakeholders, are generally well developed. However, operational measures are typically ad hoc and lack formal structure. A structured approach to measuring performance in SMEs should improve strategic control. Current approaches, however, have proved inadequate for the specific requirements of the SME sector. A new process is presented for developing effective performance measurement in SMEs, which is tested through a case study. The aim of the process is to develop measures that drive operational performance towards the achievement of strategic objectives. The results of the case study demonstrate the potential of the process for improving strategic control and stimulating continuous improvement in SMEs.

Journal Article Type Article
Acceptance Date Jan 1, 2001
Online Publication Date Nov 15, 2010
Publication Date Dec 1, 2001
Journal Production Planning and Control
Print ISSN 0953-7287
Electronic ISSN 1366-5871
Publisher Taylor & Francis
Peer Reviewed Peer Reviewed
Volume 12
Issue 8
Pages 804-813
DOI https://doi.org/10.1080/09537280110061557
Public URL https://uwe-repository.worktribe.com/output/1088401
Publisher URL http://dx.doi.org/10.1080/09537280110061557