THEORETICAL ASPECTS OF MEASUREMENT AND MANAGEMENT OF COMPANY'S PERFORMANCE

Abstract

The concept of performance is one of the most important categories of economic analysis, it has been extensively used and it has a broad interpretation. To describe the concept of performance, the related words are used, linked by the noun “performance”: performance management, performance measurement, and performance assessment. In Latvia, these concepts have not been analysed and assessed; therefore, there is a necessity to carry out a theoretical investigation into the concept of performance as well as the concept of performance measurement and management. The research is based on the analysis of foreign scientific publications and special literature devoted to the concept of performance and issues of performance measurement and management. The aim of the research is to carry out a theoretical investigation into company’s performance and performance measurement and management General research methods are employed in this research: the monographic or descriptive research method, the comparative research method, carrying out exploration of the concepts “performance” and “performance measurement and management framework”, based on the extensive study of literature. As a result of the research, the investigation into the concept of performance has been carried out, systematization of the performance measurement and management frameworks and systematization of the small and medium-sized companies’ performance measurement and management frameworks have been performed.