The Practice of Performance Measurement in Small and Medium Enterprises: Empirical Evidence from a Developed Economy Perspective
|Author(s)||by Abdul Morlai Kanu, Ibrahim Sesay|
|Keywords||Performance measurement, Small and Medium Enterprises, Survey|
|Open Access||Access PDF Open in New Tab|
This paper examines the practice of performance measurement (PM) among Small and Medium Enterprises (SMEs) within the construction industry. The study was conducted by using a questionnaire survey with random, systematic and stratified sampling being employed to select respondents from a pool of different construction companies. The data was analysed by using descriptive statistical analysis. The results suggest that the majority of SMEs do not measure their performance. Respondents identified customers’ satisfaction as the most appropriate reason for implementing performance measurement. Furthermore, most of the SMEs satisfy their customers by meeting project schedule. The study further indicated that limited human resources are a major barrier that prevents SMEs from implementing performance measurement systems.
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