Publisher

STIE MCESTIE MCE

Journal Journal of Accounting, Business and Management (JABM)Journal of Accounting, Business and Management (JABM) Abstract

Accounting and financial systems and tools are widely used in performance measurement by leaders and managers. Although the definitions of leadership and management defer, the same tools are applied to manage organizations. The shift from the industrial age into todays emerging information age has brought a great need for effective leadership and management. As performance is the epitome of a business enterprise, performance measurement is too important and too costly to get wrong. If the performance is not measurable, it is very difficult to manage operations of an enterprise. The last 20 years has witnessed a revolution of performance measurement ranging from financial ratios and budgetary control procedures by Dupont and General Motors, to organizational measurement systems, and next to the balance score card and Activity based budgeting, to name a few. An attempt is made to integrate practical and useful measurement (accounting, financial and non-accounting and non-financial) and management systems and tools to harness their synergized benefits in strategies.

Conclusion

In conclusion, there is a need to recognize the nature of management and performance measurement techniques either financially or non-financially related.Leaders and managers must understand the practicality and the benefits of any performance measurement that is to be implemented.With good understanding of available performance measurements and management techniques, coupled with a thorough understanding of the business and innovation, a leader will be able to integrate useful performance measurements with practical management systems and techniques to assist the leader in leading his organization.

Future Research

Future research should focus on assessing the effectiveness of the integrated performance measurement tool, combining the balance scorecard, financial ratios, and integrated risk management, in a real-world organizational setting. Further investigation is needed to explore how the integration of non-financial measures, such as customer satisfaction and employee morale, can be more effectively linked to financial performance and strategic objectives. Additionally, research could examine the role of emerging technologies, like data analytics and artificial intelligence, in enhancing the accuracy and efficiency of performance measurement systems and providing more actionable insights for leaders and managers. These studies should consider the specific challenges and opportunities faced by organizations in the information age and aim to develop practical frameworks for improving decision-making and achieving sustainable competitive advantage.

References

1. DOI Name 10.1080 Values. name values index type timestamp data serv crossref email doiadmin namespace... doi.org/10.1080DOI Name 10 1080 Values name values index type timestamp data serv crossref email doiadmin namespace doi 10 1080
2. DOI Name 10.1016 Values. name values index type timestamp data serv crossref email support namespace... doi.org/10.1016DOI Name 10 1016 Values name values index type timestamp data serv crossref email support namespace doi 10 1016

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