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Roles of performance measurement in SMEs' management processes

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  • Kongkiti Phusavat

Abstract

This paper describes key activities that were undertaken to assist SRC Enterprise, under the so-called Small and Medium Enterprise (SME) Revitalization Program. The Department of Industrial Promotion under the Ministry of Industry sponsored this programme. The programme aimed to improve competitiveness and to strengthen the management practices of participating SMEs in Thailand. In this paper, the activities specifically discussed included the assessment of SRC Enterprise's management system, development of performance measurement (to help strengthen the management system), initiating of performance analysis, and addressing of ongoing challenges as a demonstration of information usefulness. Two critical challenges were used to demonstrate the importance of providing quantitative information to the company's management. Improvement decisions to respond to these challenges were the document-control process of customer drawings and the change in the company's procurement policy. Finally, the future work for SRC Enterprise and the research in the area of SMEs are proposed and discussed.

Suggested Citation

  • Kongkiti Phusavat, 2007. "Roles of performance measurement in SMEs' management processes," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 4(4), pages 441-458.
    • Handle: RePEc:ids:ijmede:v:4:y:2007:i:4:p:441-458
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