These findings have provided significant indications that traditional performance measures which are solely relying on financial goals and indicators fail to enhance business performance of manufacturing companies (refer Table 9).According to the results shown in Table 9, positive relationships have been determined between financial performance and non-financial measures. Companies applying non-financial measures are achieving better business performance. Here, researchers have concluded that applying MCPM models/frameworks consisting of critical operational (non-financial) measures is the primary step for identifying problems within the companies and to take significant actions that will improve their performance in the future.From the managerial perspective, managing labor intensive companies mean managing employees. Therefore, successes of such companies are entirely dependent on the employee’s productivity and performance. The performance of such firms should be measured using leading indicators rather than lagging indicators to attain the required productivity and financial performances from their workers. This research gives an insight for those managers in two ways. Firstly, they can find empirical evidence where they are as compared to the global norms. Secondly, it will give them an idea how to improve their labor productivity and they can compete by implementing an appropriate performance measures in order to motivate and develop their workers.
đang được dịch, vui lòng đợi..