PERFORMANCE OF A BUSINESS ORGANIZATION: CONCEPT AND MEASUREMENT

Abstract

A critical review of the concept of business organization performance and explores its application in the practical aspects of business management in Ukraine. The importance of defining and measuring performance in the modern business environment is discussed. The approaches to measuring performance and key performance indicators (KPIs) are examined, which help assess the achievement of business process goals and identify opportunities for improvement. The use of performance evaluation methods, such as the Balanced Scorecard (BSC) and process performance monitoring, allows evaluating various aspects of organizational activity and ensuring competitiveness. The concept of business organization performance refers to the ability of an organization to achieve its goals and objectives effectively and efficiently. It encompasses various aspects such as financial performance, customer satisfaction, process efficiency, and overall competitiveness. In conclusion, measuring the performance of business organizations requires a clear understanding of goals, the use of key performance indicators, and the application of appropriate evaluation methodologies. By doing so, organizations can assess and improve their performance from various perspectives, ensuring their success and competitiveness in the market. Researching and evaluating the performance of business organizations is essential in the context of the Ukrainian economy. Ukrainian companies are increasingly recognizing the significance of performance evaluation and the implementation of performance measurement systems. This is driven by the growing market competition, where companies need to identify their competitiveness and find ways to enhance their efficiency. Performance research allows organizations to assess current performance indicators, identify potential issues, and determine directions for further development. Furthermore, implementing performance measurement systems aligns Ukrainian companies with European standards and norms, enhancing their competitiveness on an international scale. Researching the performance of business organizations in Ukraine contributes to enhancing their efficiency and overall economic development.