Performance Evaluation in Indian Corporate Organizations: A Survey

In today's globalization of the business environment, it becomes imperative for the business firms to look for foreign market opportunities in order to gain and sustain competitive advantage. Trade and market liberalization especially in the emerging economies, has resulted into growing presence of businesses from these countries in the global economy. In order to compete with the global players, businesses from emerging economies need to pay greater attention on evaluating their business performance. Business managers have recognized that new strategies and competitive realities demand new measurement systems. As the competition continues to stiffen, a broader conceptualization of business performance evaluation system including indicators of financial as well as operational is needed. Further, for performance measures to have meaning and provide useful information, it is necessary to make comparisons between and within the organizations. The comparisons may evaluate progress in achieving given goals or targets, assess trends in performance over time, or weigh the performance of one organization against another. In today's business world, India as a major player among the emerging economies is making its presence felt. In order to get insight regarding the current scenario of performance evaluation process of Indian corporate organization, a survey was conducted where more than one hundred organizations were contacted and the information on various key parameters was collected. In this paper, we discuss the key findings of the survey conducted. We also propose a framework of conducting organization wide performance measurement for Indian scenarios. We hope that this will enable Indian companies revisit their strategies and help in improving national economies.