Corporate performance management (noun) is a strategic process that involves planning, monitoring, and evaluating an organization’s performance. A real-world example is when a tech company sets financial goals, tracks progress, and adjusts strategies to meet performance targets.
Corporate performance management is essential for improving efficiency, aligning operations with goals, and staying competitive. Its benefits include increased productivity, reduced costs, and a better ability to adapt to changing market conditions. A key historical development in corporate performance management was the adoption of key performance indicators (KPIs) in the 1990s, which provided a standardized way to measure performance.