Performance Measurement And Performance Management

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Performance measurement and performance management are two very important terms when it comes to how we analyse and value the economic world. In 1995, Lebas defined that performance is all about capability and how one deploy and manage the componenets of casual models that could lead to attainment of set objectives witin controls specific to firm and situation (Lebas, 1995). Likewise other scholars such as Neely (1995) and Bititci et al. (1997) went on to explain that performance measurement is analysising the effectivenesss and efficiency of action (Neely, 1995) and that performance management is a set of process through which an organization tries to manage its performance with respect to its financial and corporate objectives and strategies (Bititci et al, 2012). While both the scholars came up with different explanations, it was Lebas (1995), who argued that both performance measurement and management are inseperable as performance management leads and follows performance measurement ( Yadav et al, 2013) There has been many phases with regard to performance management and measurements which is depicted in the figure1 below: Figure 1. Transations of performance measurement and management. (source: Performance measurement and management frameworks: Research trends of the last two decades. Business Process Management Journal, 19(6), 947-971) From the figure above it is quite clear that during the nineteenth centure traditional accounting management and cost
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