Strategic Performance Management System Research and Analysis Report

This report provides a comprehensive analysis of Strategic Performance Management Systems (SPMS), exploring its various aspects through a literature review and case studies of AGL Energy Ltd and Bank of Queensland. The research delves into multi-perspective SPMS, highlighting its objectives, elements, and the SPMS process, including planning, monitoring, evaluation, and rewarding. It examines motivation theories, particularly Maslow's hierarchy of needs, and their application in the workplace, linking them to reward systems to improve employee performance. The report discusses the strengths and drawbacks of SPMS, its evolution, and its integration with the balanced scorecard. The analysis covers the efficiency of SPMS in public and private sectors, emphasizing its role in enhancing productivity, financial performance, and employee satisfaction. The report also examines the use of extrinsic and intrinsic rewards to motivate employees, offering insights into how organizations can optimize their reward systems to drive better performance. This report is designed to provide a comprehensive overview of SPMS and its significance in modern business practices.

qwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwe
rtyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyu
iopasdfghjklzxcvbnmqwertyuio
pasdfghjklzxcvbnmqwertyuiopa
sdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmqwertyuiopasdfghj
klzxcvbnmqwertyuiopasdfghjkl
zxcvbnmqwertyuiopasdfghjklzx
cvbnmqwertyuiopasdfghjklzxcv
bnmqwertyuiopasdfghjklzxcvbn
mqwertyuiopasdfghjklzxcvbnm
qwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwe
rtyuiopasdfghjklzxcvbnmrtyuio
[Type the document title]
[Type the document subtitle]
[Pick the date]
ResearchPixie13@gmai

Contents
INTRODUCTION.....................................................................................................................................1
A LITERATURE REVIEW..........................................................................................................................2
Multi perspective SPMS Research.....................................................................................................2
Motivation theories and Reward System Research...........................................................................6
B COMPANY RESEARCH.........................................................................................................................9
Company profile & disclosure of SPMS..............................................................................................9
Company performance & link to reward.........................................................................................11
CONCLUSION.......................................................................................................................................11
Bibliography.........................................................................................................................................12
1

INTRODUCTION
The strategic performance management system (SPMS) is a method of linking the
performance of the employee with the performance of the organization in order to enhance
the performance of compensation system on the whole (Petra 2016). The system ensures that
the employees meet the goal assigned by the company and the company meet the goal
assigned by the strategic plan.
The basic objectives of SPMS are s followed:
 Linking the performance of the organization with the already assigned strategic
development plan
 It ensures the effectiveness of the organization as well as increases the accountability
 The performance management system is linked with the HR system of the company.
The basic element of SPMS is as followed:
 The agency assigned goals are the top priority for the organization
 It is output and outcomes oriented system
 Works on team management
 Monitoring and evaluation oriented
 A set communication plan (CSC 2017)
The process of SPMS has four stages. The process of SPMS is described below:
 Planning of performance and commitment
 Monitoring of the performance and coaching later
 Reviewing and evaluation of the performance
 Rewarding of the performance and making a development plan (bragias 2014)
2

A sense of satisfaction comes in the employees once they have achieved the goals set by the
company. This satisfaction will motivate the employees to work harder and improve their
performance in future. One of the most popular theories is the Maslow’s hierarchy of needs.
Maslow classified the needs of the human being in a hierarchy from top to bottom. Maslow
stated if the needs of one level are satisfied it no longer motivates employees. . Money is the
major motivating factor. So, a salary hike is the most effective manner of motivating the
employees to perform better in a company.
The companies being considered in the assignment are AGL energy Ltd and Bank of
Queensland. AGL is an Australian company that provides energy solutions to economy of
Australia. The company is responsible for generation of electricity for domestic as well as the
commercial use. AGL generated energy from the thermal power station, hydroelectricity,
wind power and natural gas.The bank of Queensland has more than 252 existing branches.
The bank has a very high rate of customer satisfaction which ranges up to 88%. The major
products of the bank are consumer banking, commercial banking, mortgage loans, credit
cards, finance and insurance.Both the companies use SPMS to enhancetheir performance.
(Giri 2014)
3

A LITERATURE REVIEW
Multi perspective SPMS Research
A study by DDI in 1997 indicates that performance management is the most recent
performance management system. It has proven to be successful in the organization along
with bringing in strategic results. The outcomes of SPMS are as followed: productivity,
financial performance, job satisfaction of the employees, product or service quality and
satisfaction of the customers. In the study there was a survey of more than 88 organization
and all the organizations seemed to be benefitting from the system. (striteska 2012)
Watkins in 2007 stated that in the use of SPMS is very efficient in the public sector
organization. It is a tool that is used for improving the performance of the organization and
also suggests the benefits of the performance management system (Veni 2012). It has found
its efficient use both in public and private sector companies. It a systematic approach of
managing people, measuring their performance and providing valuable feedbacks. It is also
used a motivation tool from deriving best for the employees as well as the management. It
helps in maintaining high quality as well as the competitive advantage. (Chenhall 2005)
A study by Hewitt Associates in 1994 stated that in the present times, performance
management has become essential for maintaining the productivity and efficiency within the
company. It helps in tracking of the financial information and maintaining an effective
feedback system. Companies having performance management increased profits and better
position in the market. As the performance of the company is enhanced, its position in the
market is also increased to a higher level. The human resource of the company becomes more
effective and the performance of the organization can be seen and tracked. It helps in using
the innovative techniques within the organization for enhancing the performance of the
employees and providing valuable feedback. (Vashi 2014)
4

In 2011, SharmisthaBhttacharjeeandSantoshiSenguptastudy the most valuable asset of the
company- The employees. Management of the human resource is essential for improving the
performance of the company and maintaining productivity. Effective management of the
human force is essential for ensuring quick growth of the company. It helps in bridging the
gap between competent requirement of the business and the existing standards of the
business. Management of the HR department of the organization is essential for maintaining
the effectiveness within the organization.
In an article by Javed Iqbal and SabaArshd, it is mentioned that the performance management
enhances the effectiveness of the company. In this article a survey is conducted and a review
on the performance management is provided. The employees are very uncertain of the
economic environment of the company. A review by the performance management system
helps in predicting the economic environment and in turn provides them with the sense of
stability. Motivation is used by performance management system in order to ensure the
performance of the company. Researchers employ the approach of data analysis in order to
track the performance. (Holloway 2017)
The various strengths of SPMS are mentioned below:
 Every employee is made accountable for his or her own performance
 Maintains complete transparency
 Clear methodology for implementation
 Provides us with the continuous monitoring system
 Improves the internal as well as the external performance
 Helps in maintaining competitive advantage.
The various drawbacks of the SPMS system re as followed:
5

 The complex matters are oversimplifies in the report
 There are lot of assumptions made in the report
 Setting of the target is very poor
 There is a lot of difficulty in handling of the timing
 The cost building of the information is very difficult
 Estimating the managerial time is very difficult (BSA 2016)
Balanced scorecard was introduced by Kaplan and Nortan. Previously it was used as a
measurement technique but now it is used as a performance development plan. All the
previous performance management system failed because they relied on the performance
management excessively. There were only the short term performance indicator of the plan
and no long term indication was there (Zizlavsky 2014).Adoption of SPMS is a very efficient
manner of enhancing the performance of the organization. Most of the performance system
still has a strong focus on the bottom line research but performance management system
provides us with the comprehensive result. Internal and financial results can be obtained
distinctly and are supposed to be more precise in nature. (Duque 2015)
Balanced scorecard is complementing many of the performance management system
namelysix sigma, European foundation for quality management, Total quality management
and 360 degree appraisal. It can be considered as a backbone for managing many other
systems. Recently balanced scorecard has gain a lot of popularity as a strategic management
tool. In Australia more than 50% of the organizations are dependent on the use of balanced
scorecard. (Nikafs 2017)
The multiple perspectives for the management of the performance are as followed:
 Provides the sufficient to address the grievances of the people
 The processes of the company are guided in all the phases
6

 The approach uses an open mind to find the need of the stakeholders
 A proper relationship between the cause and effect of the company is listed
 Effective performance review and feedback. (Jackson 2015)
Motivation theories and Reward System Research
There are two theories for motivating the employees under the performance management
system. According to Salaman the two important theories under the performace management
are as followed:
 Goal setting theory: There is a goal for every employee that he is supposed to
achieve. Goal setting for every employee improves the performance of the employee
as well as the company on the whole (Lunenburg 2011). Employees keep working
hard in order to achieve the goal. There are incentives given to the employees once
the goal is achieved by them. If the goal is not achieved by the employees then the
goal are modified and made more realistic according to the personal needs of the
employees. (Hetch 2017)
 Expectancy theory:The performance of the individuals within an organization
depends upon the satisfaction employees derive from the performance within the
organization (Simone 2015). The goals must be made realistic so that they can be
achieved by the employees within the specified time frame without much difficulty. A
sense of satisfaction comes in the employees once they have achieved the goals set by
the company. This satisfaction will motivate the employees to work harder and
improve their performance in future. (Business 2017)
One of the most popular theories of motivation is the Maslow’s hierarchy of needs. This
theory of motivation is based on the needs of the human beings. Maslow classified the needs
of the human being in a hierarchy from top to bottom. Maslow stated if the needs of one level
7

are satisfied it no longer motivates employees. Then next higher level of need must be set as a
target in order to motivate the employees (Kaur 2013). According to Maslow the needs of the
human being are classified in the following five categories which are described below:
 Psychological needs: Needs to be satisfied in order for the survival of the human
being.
 Safety needs: This includes personal as well as the financial security
 Social needs: These are the needs of the friendship, relations and the family.
 Esteem needs: It is the need to enhance confidence and be respected in the society.
 Self-actualization: It is the desire to achieve everything that falls within the spectrum
(Boundless 2014)
Application in the workplace: The need of the hierarchy is applied within the organization.
Managers within the organization strive to achieve the highest level of the needs that is self-
actualization. Satisfaction of the higher level of needs motivates the employees to work
harder for achieving their needs. The employees want to feel respected in the organization
and thus work harder to achieve their goals. In order to motivate the employees, the
management must also understand the needs of the employees. It is made sure that the
employees are provided with the incentives and rewards on completion of their targets. The
employees must be given flexible working timings and appropriate leaves. (Contactzilla
2014)
The basic goal of the comparing motivational theory with the reward system is to improve the
performance of the employees. Performance management system serves to motivate the
employees by assessing their performance and rewarding them later on (Jawaria Andleeb
Qureshi 2010). Various researches and surveys have stated that the use of the reward system
by the organization helps in improving the performance of the employees. The motivation
8

and the reward system have been proved to be very helpful to the world of
business.Organization keeps on improving and modifying their reward systems in order to
motivate the employees for improving their performance. The effective of the performance of
the employees can be assessed by this theory (Sharma 2014). The reward system and the
motivation of the employees are closely linked and both of them help in improving the
performance of the employees. (Devz 2013)
There are various extrinsic and intrinsic rewards provided to the employees that help them in
motivating to work harder for the success of the company (Ayesha Ajmal 2015). There are
two types of the rewards that the given to the employees of the company. Extrinsic rewards
are the rewards that the employees rewards that the employee receives with extraordinary
performance such as bonus, gifts and salary hikes. Intrinsic rewards are more linked to the
personal satisfaction of the employees such as effective feedback, recognition and trust.
Money is the major motivating factor. So, a salary hike is the most effective manner of
motivating the employees to perform better in a company. Promotion is also a very important
form of motivating the employees and giving them rewards. Promotion increases their status
and position in the organization which satisfies the need of self-actualization in a company.
With the increased level of promotion, the employees’ retention in the company increases and
the employees fell to be more valued in the company.Promotion also helps in improving the
morale of the employees and giving them job satisfaction. By providing the employees with
the effective rewards the performance of the employees within the company enhances.
Employees work harder to achieve the target set by the company. With the reward system
employees also work hard to improve their skills and work towards improving their personal
growth. Reward system also helps in boosting the performance of the company and providing
good returns. It also brings the positive contract between the employee and the employer.
9

Reward system also helps in maintaining a healthy environment within the workplace.
(Jenkins 2017)
B COMPANY RESEARCH
Company profile& disclosure of SPMS
The two companies we have selected in this assignment is AGL Energy ltd and Bank of
Queensland Ltd. AGL is an Australian company that provides energy solutions to economy
of Australia. The company is responsible for generation of electricity for domestic as well as
the commercial use. AGL generated energy from the thermal power station, hydroelectricity,
wind power and natural gas. In report in 2016, AGL confirmed that there are more than 3
million customers of the company. In the recent times the company has also started supplying
natural gas.It is the Australia’s largest private owners of the company. The net income of the
company is 1.2 million and it employees more than 4 thousand people. The company has its
various subsidiaries in Australia. AGL Energy Ltd is the second company on the list of the
American Stock Exchange. (AGL 2017)
Bank of Queensland is the retail bank of Australia. It has its headquarters in Brisbane,
Australia and it is the oldest financial institution there. The bank has more than 252 existing
branches. The bank has a very high rate of customer satisfaction which ranges up to 88%.
The major products of the bank are consumer banking, commercial banking, mortgage loans,
credit cards, finance and insurance. The net income of the bank is more than 260 million by
employing only 2500 employees. The company started as a society in 1887 and later received
a trading licence in 1942. The bank switched ro the electronic system in 1982. Later on the
bank also acquired ATM solution. (BOQ 2017)
AGL Energy ltd uses SPMS system to evaluate the performance of the employees. As AGL
Energy ltd is a big organization it requires a well-defined system for performance
10

management. It requires a very specific and accurate data for the management of its
information. Through the performance management system the company is able to internal
processes as well as accesses the external systems. The company ensures the strategic
maintenance of balance. AGL Energy Ltd also utilizes the balance scorecard method in order
to ensure that top to down performance analysis is made keeping in mind that the employees
are provided with the constructive feedbacks. The performance management by SPMS helps
in maintaining the efficiency within the organization.AGL Energy Ltd. utilizes performance
managementto formulate the strategies and objectives of the company.There has been many
benefits to the company by the adoption of the SPMS such as strong leadership, better
implementation of the strategy and effective communication within the organization. With
the SPMS there has been increased involvement of the staff at all levels of management.
There have been changes in the SPMS system of AGL Energy Ltd with the time. Now the
company has adopted new and effective reward system which will help in motivating the
employees. SPMS also helps in developing the cause and effect relationship within the
organization. With the implementation of the new reward system the employees were given
valuable feedbacks which improved the performance of the employees over the span of time.
As the company has seen significant growth with time there has been a lot of change in
perspective and objectives of SPMS. (Gungor 2011)
Bank of Queens land also uses strategic performance management system to handle their
finances. As the company belongs to the financial system the use of SPMS for handling the
financial data is even more effective. The financial growth of the company could be tracked
easily with the help of this software. Banking is a very vast domain and with the use of the
SPMS bank of Queensland is able to maintain accuracy and transparency in its business
operations. As banking has evolved a lot with time, there has been many changes in the
SPMS systems for the banks. SPMS makes the banks services more effective and efficient.
11

The rate of Customer satisfaction for the banks is 88%. This high level of customer
satisfaction was possible with the help of SPMS software. SPMS also helps in the personal
growth of the employees which increases their customer satisfaction.
Company Performance and Link to Rewards
The implication of a Strategic Performance Measurement System (SPMS) helps an
organisation to measure the non-financial aspects that help increase the overall efficiency of a
firm. Such information provided to the shareholders also is critical to making final decisions
in terms of investing monetary resources (Ward 2012). The effective incorporation of such
system is utilised to measure employee performances during a financial year and also aids the
managers to formulate strategies for the long run. The blueprint created with the usage of the
SPMS framework helps a company to evaluate its current strategy and compare it that to its
rival present in the current market. There are several tools present in the SPMS framework
starting with the balanced scorecard, performance prism, and value chain scorecard. The use
of such non-financial measurement tool indirectly helps increase a company's financial
position. In the context of AGL Energy Limited and Banks of Queensland Limited, the
financial position of the firm is analysed by examination of the general purpose financial
report for the accounting year 2016.
AGL Energy Limited - on observation of the annual report, the size and scale of the
company significantly increase gradually as the company takes part in large scale sales. The
revenue generated increases from an initial value of $7,456 million in 2012 to $11,150 in
2016. However, on analysing the profit margin of the company, it is established that the
business entity has experienced a huge level of loss at the end of the financial year of 2016.
The rate of percentage change also gradually reduces from $115 million statutory profit out
of $7,456 sales to a loss of $408 out of $11,150 revenue.
12

On the other hand, there has been an overall growth of 11% in the firm with an overall net
profit after taxation amounting to $701 million. Based on the result of company growth, a
committee known as People and Performance Committee is responsible for rewarding the
employees based on the firm’s finances and strategies adopted. The company is entertaining
the idea of short term incentives which an employee can obtain based upon the sales and
profit growth of the firm. Based on the performance level of the financial year 2016, the
employees are liable to obtain 127% of STI. On the other hand, long term incentive plans are
in correlation with the share price performances. Along with these benefits, the firm is also
responsible for paying the employees a sum amount as fixed remuneration either monthly,
quarterly or on an annual basis.
Bank of Queensland Limited - In the case of Bank of Queensland, the banking institution
also experiences a growth in the profit level generated as there is an increase from $292
million from $379 million. The organisation also makes considerable effort to minimise its
expenses as the level of expenses incurred increases only by a $2 million. In terms of the
assets held by the firm, the organisation takes part in investment and increases in the capacity
of the asset value from $44,512 to $47,354 million. The level of equity issued by the
company also increases from that of the financial year 2015 with a positive difference of
$122 million. However, the financial leverage of the firm is highly in favour of the liabilities
owed which can affect the company adversely. The risk level of losing money greatly
increases and thus investors will also be more likely to hesitate before taking the decision of
investing in the firm (Ozdagli 2012).
As per the remuneration report of Bank of Queensland Limited, the statement has been
prepared in complete compliance as per Section 300A of the Corporation Act of 2001. The
firm takes part in short as well as long term incentive plans and is measured on the standards
maintained by the departments of Threshold, target, Superior and Exceptional. Based on the
13

level of performance which is adequately categorised into the individual department,
employees are adequately compensated. The categorisation of performance is to be carried
based on the employee measurement standards created as per SPMS framework. The rewards
are often presented in terms of shares to the employees that are performing under the
Exceptional level. The amount due on annual incentive is to be paid to the employee by
October and the shares awarded must be released at the end of the accounting year.
With the change in the Australian economy and the introduction of the SPMS framework
companies are provided a better opportunity to analyse the level of input contributed by every
recruit and to reward them based on their performances (Bititci 2012). However, in this case,
both the companies selected for case study do not make any disclosure about the SPMS
strategies adopted. Therefore, the governing body responsible for upholding preparation of
GPFS namely AASB and IFRS must formulate standards that encourage companies to issue
or disclose a certain portion of their SPMS strategies to ensure investor and bring a sense of
security in the long run.
14

CONCLUSION
SPMS system ensures that the employees meet the goal assigned by the company and the
company meet the goal assigned by the strategic plan. . The outcomes of SPMS are as
followed: productivity, financial performance, job satisfaction of the employees, product or
service quality and satisfaction of the customers. Balanced Scorecardcan be considered as a
backbone for managing many other systems. Recently balanced scorecard has gain a lot of
popularity as a strategic management tool. Various advantages of SPMS are as followed:
every employee is made accountable for his or her own performance, maintains complete
transparency, clear methodology for implementation. Most of the performance system still
has a strong focus on the bottom line research but performance management system provides
us with the comprehensive result. Internal and financial results can be obtained distinctly and
are supposed to be more precise in nature. (chand 2017)
Employees keep working hard in order to achieve the goal. There are incentives given to the
employees once the goal is achieved by them. If the goal is not achieved by the employees
then the goal are modified and made more realistic according to the personal needs of the
employees. Maslow classified the needs of the human being in an hierarchy from top to
bottom. Maslow stated if the needs of one level are satisfied it no longer motivates
employees. Then next higher level of need must be set as a target in order to motivate the
employees. There are various extrinsic and intrinsic rewards provided to the employees that
help them in motivating to work harder for the success of the company. Various researches
and surveys have stated that the use of the reward system by the organization helps in
improving the performance of the employees. The motivation and the reward system have
been proved to be very helpful to the world of business.
Bibliography
15

'AGL' 2017, viewed 06 September 2017, <https://www.agl.com.au/about-agl>.
Ayesha Ajmal, MBMAMMK&SS 2015, 'The Effects of Intrinsic and Extrinsic Rewards on Employee
Attitudes; Mediating Role of Perceived Organizational Support', Journal of Service Science and
Management, vol 8, pp. 461-470, viewed 11 September 2017,
<https://file.scirp.org/pdf/JSSM_2015072117105646.pdf>.
Bititci, U,GP,DV&NS 2012, 'Performance measurement: challenges for tomorrow', International
Journal of Management Reviews, pp. pp.305-327.
'BOQ' 2017, viewed 2017, <http://www.boq.com.au/>.
Boundless 2014, 'INcentive theory', viewed 01 September 2017,
<https://www.boundless.com/psychology/textbooks/boundless-psychology-textbook/motivation-
12/theories-of-motivation-65/incentive-theory-of-motivation-and-intrinsic-vs-extrinsic-motivation-
252-12787/>.
bragias, D 2014, 'spms', viewed 02 September 2017.
'BSA' 2016, viewed 04 September 2017,
<http://www.balancedscorecardaustralia.com/bsa/main/strategic-performance-systems/>.
Business, S 2017, 'SPMS', viewed 07 September 2017,
<http://www.sbgfc.org.ph/sites/default/files/pms_1.pdf>.
chand, S 2017, 'Motivtion theory', viewed 03 September 2017,
<http://www.yourarticlelibrary.com/motivation/motivation-theories-top-8-theories-of-motivation-
explained/35377/>.
Chenhall, R 2005, 'SPMS', viewed 07 September 2017,
<http://www.sciencedirect.com/science/article/pii/S0361368204000662>.
'Contactzilla' 2014, viewed 04 September 2017, <https://contactzilla.com/blog/5-psychological-
theories-motivation-increase-productivity/>.
'CSC' 2017, viewed 11 September 2017, <http://www.csc.gov.ph/2014-02-21-08-16-56/2014-02-21-
08-17-24/2014-02-28-06-36-47.html>.
Devz 2013, 'Reward motivational theory', viewed 05 September 2017,
<https://www.slideshare.net/devz1235/reward-motivational-theories>.
Duque, F 2015, 'SPMS', viewed 08 September 2017, <http://hrdo.upd.edu.ph/spms.pdf>.
Giri, I 2014, 'control theory of SPMS', viewed 04 September 2017,
<https://www.projectguru.in/publications/control-theory-performance-management-system/>.
Gungor, P 2011, 'relationship between reward managemnt and employee performance', viewed 10
September 2017, <http://www.sciencedirect.com/science/article/pii/S1877042811015576>.
16

Hetch, G 2017, 'SPMS', viewed 04 September 2017, <https://www.coursera.org/learn/managerial-
accounting-business-decisions/lecture/Tlpl6/strategic-performance-measurement-systems>.
Holloway, J 2017, 'SPMS', viewed 10 September 2017,
<
https://www.researchgate.net/publication/42798441_Performance_management_from_multiple_p
erspectives_Taking_stock>.
Jackson, T 2015, 'Wht is SPMS?', viewed 08 September 2017,
<https://www.clearpointstrategy.com/strategic-performance-management/>.
Jawaria Andleeb Qureshi, AS&Z-U-RABA 2010, 'Performance management systems: A comparative
analysis', African Journal of Business Management, vol 4, no. 9, pp. 1856-1862, viewed 11
September 2017, <http://www.academicjournals.org/journal/AJBM/article-full-text-pdf/
0ECF0F532323>.
Jenkins, A 2017, 'About employee motivation and reward system', viewed 03 September 2017,
<http://smallbusiness.chron.com/employee-motivation-reward-systems-15978.html>.
Kaur, A 2013, 'Maslow’s Need Hierarchy Theory: Applications and Criticisms', Global Journal of
Management and Business Studies, vol 3, no. 10, pp. 1061-1064, viewed 11 September 2017,
<https://www.ripublication.com/gjmbs_spl/gjmbsv3n10_03.pdf>.
Lunenburg, FC 2011, 'Goal-Setting Theory of Motivation', INTERNATIONAL JOURNAL OF
MANAGEMENT, BUSINESS, AND ADMINISTRATION, vol 15, no. 1, pp. 1-5, viewed 11 September
2017, <http://www.nationalforum.com/Electronic%20Journal%20Volumes/Lunenburg,%20Fred
%20C.%20Goal-Setting%20Theoryof%20Motivation%20IJMBA%20V15%20N1%202011.pdf>.
Nikafs, J 2017, 'a literature review on balanced scorecard', viewed 07 September 2017,
<http://amiemt-journal.com/test/vol4-3/14.pdf>.
Ozdagli, AK 2012, 'Financial leverage, corporate investment, and stock returns', The Review of
Financial Studies, pp. pp.1033-1069.
Petra, RR&L 2016, 'Strategic Performance Management System and Corporate Sustainability
Concept - Specific Parametres in Slovak Enterprises', Journal of Competitiveness, vol 8, no. 3, pp.
107-124, viewed 11 September 2017, <https://www.cjournal.cz/files/228.pdf>.
Sharma, S&DM 2014, 'Performance Management System: An Analysis', International Journal of
Managerial Studies and Research, vol 2, no. 9, pp. 105-107, viewed 11 September 2017,
<https://www.arcjournals.org/pdfs/ijmsr/v2-i9/12.pdf>.
Simone, SD 2015, 'Expectancy Value Theory: Motivating Healthcare Workers', American
International Journal of Contemporary Research, vol 5, no. 2, pp. 19-23, viewed 11 September 2017,
<http://www.aijcrnet.com/journals/Vol_5_No_2_April_2015/3.pdf>.
striteska, M 2012, 'review and comparison of SPMS', viewed 02 September 2017,
<http://ibimapublishing.com/articles/JOMS/2012/114900/114900.pdf>.
17

Vashi 2014, 'literature review', viewed 11 September 2017,
<https://www.slideshare.net/ShaikhIrshad/literature-review-on-performance-management-
system>.
Veni, SG&VSK 2012, 'The Study of Performance Management System In IT Organizations', IOSR
Journal of Business and Management, vol 6, no. 3, pp. 37-52, viewed 11 September 2017,
<http://www.iosrjournals.org/iosr-jbm/papers/Vol6-issue3/F0633752.pdf?id=5341>.
Ward, K 2012, Strategic management accounting, Routledge, Abingdon.
Zizlavsky, O 2014, 'The Balanced Scorecard: Innovative Performance Measurement and Management
Control System', Journal of Management Technology & Innovation, vol 9, no. 3, pp. 210-219, viewed
11 September 2017, <http://www.scielo.cl/pdf/jotmi/v9n3/art16.pdf>.
18