Construction business performance measurement: the SPM alternative

Construction business performance measurement: the SPM alternative Construction business performance measurement (BPM) is myopic, most often being project‐specific, profit‐orientated, and neglecting broader “stakeholder” issues. If construction organizations are to remain competitive in the longer term, they need to develop and better understand their relations with their customers, suppliers, employees, lenders and the wider community. Hence, performance measurement must embrace these broader business characteristics. The need for a shift in “orthodox” (BPM) beliefs from “basic” performance measurement, to an alternative “stakeholder perspective measurement” (SPM), is underlined. SPM will adequately consider relations with customers, suppliers, employees, financiers, and the wider community; all being critical for a business’s long‐term viability. The paper goes on to advocate that construction organizations should reject this myopic strategic thinking, and better consider the interests of their stakeholders, both economically and morally. The latter calls for development of a serious stakeholder perspective to business performance measurement, so that construction organizations can be monitored and judged in a socially acceptable manner. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business Process Management Journal Emerald Publishing

Construction business performance measurement: the SPM alternative

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Publisher
Emerald Publishing
Copyright
Copyright © 2000 MCB UP Ltd. All rights reserved.
ISSN
1463-7154
DOI
10.1108/14637150010352417
Publisher site
See Article on Publisher Site

Abstract

Construction business performance measurement (BPM) is myopic, most often being project‐specific, profit‐orientated, and neglecting broader “stakeholder” issues. If construction organizations are to remain competitive in the longer term, they need to develop and better understand their relations with their customers, suppliers, employees, lenders and the wider community. Hence, performance measurement must embrace these broader business characteristics. The need for a shift in “orthodox” (BPM) beliefs from “basic” performance measurement, to an alternative “stakeholder perspective measurement” (SPM), is underlined. SPM will adequately consider relations with customers, suppliers, employees, financiers, and the wider community; all being critical for a business’s long‐term viability. The paper goes on to advocate that construction organizations should reject this myopic strategic thinking, and better consider the interests of their stakeholders, both economically and morally. The latter calls for development of a serious stakeholder perspective to business performance measurement, so that construction organizations can be monitored and judged in a socially acceptable manner.

Journal

Business Process Management JournalEmerald Publishing

Published: Dec 1, 2000

Keywords: Performance measurement; Stakeholders; Strategy; Construction industry

References

  • Performance Measurement in Service Businesses
    Fitzgerald, L; Johnston, R; Brignall, S; Silvestro, R; Voss, C
  • The propagation of rework benchmark metrics for construction
    Love, P.E.D; Smith, J; Li, H

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