THE ROLE OF STRATEGIC PERFORMANCE MANAGEMENT IN ACHIEVING BUSINESS GOALS
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- NGN 3000
Abstract:
This study aims to (1) evaluate the impact of strategic performance management on achieving business goals, (2) identify the key components of effective performance management systems, and (3) assess the role of performance measurement in driving organizational success. A survey research design was employed to gather detailed insights from a large sample. Using Taro Yamane's formula, a sample size of 370 respondents was selected to ensure representativeness. The research was conducted among service industry firms in Lagos, Nigeria, known for their focus on performance management. The reliability coefficient score of the survey was 0.88. The findings indicate that strategic performance management significantly enhances business goals achievement by promoting accountability, improving performance measurement, and aligning individual performance with organizational objectives. Recommendations include developing robust performance management systems, providing continuous training for employees, and leveraging technology to enhance performance tracking and reporting.
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