ABSTRACT

This chapter identifies a variety of performance management methodologies and performance measurement criteria by which the process and outcomes of strategy formulation, strategic decision-making and strategic choice, strategic management, and strategy implementation may be evaluated. It looks at single and multiple variable performance evaluation methodologies. The European Foundation for Quality Management (EFQM) model contains a variety of performance evaluation methodologies and performance measures that are used to indicate the degree of organizational progress towards the achievement of excellence. The chapter analyzes a variety of performance benchmarks and performance indicators. It makes reference to the concepts of Six Sigma, the Balanced Scorecard, the triple bottom line, Best Value, and performance excellence. The chapter analyses the use of competition strategy benchmarks. Six Sigma may also be used to evaluate the cost of poor quality (COPQ), or the cost of non-conformance with standard or benchmark.