Purpose
The purpose of this paper is to develop a performance management (PM) scale questionnaire that encompasses the pre-requisite, performance planning, performance evaluation, performance review, and performance application dimensions of PM.
Design/methodology/approach
In the study, the 33 questionnaire questions were first validated using exploratory factor analysis (EFA) and then by confirmatory factor analysis (CFA) along the three performance dimensions. The research sample consists of 330 entrepreneurs. The factor analysis results confirm the validity of the questionnaire as a reliable entrepreneur PM evaluation tool, as evidenced by the composite reliability of 0.845 and the average variance extracted of 0.532.
Findings
All constructs revealed the acceptable internal consistency reliability. A good model fit was found for the measurement model using several fit index like χ2=449.983, degree of freedom=415, p-value (p)=0.114, goodness of fit index=0.927, adjusted goodness of fit index=0.901, root mean square error of approximation=0.016, and root of mean square residuals=0.032.
Research limitations/implications
The PM model was examined using EFA and CFA only. A sample with only SMEs entrepreneurs and large sample size and sample area can be used in future research.
Practical implications
This research paper is an endeavor to explore only the reliability and validity of the PM model. Thus all the five dimension, namely “pre-requisite” “performance planning,” “performance evaluation,” “performance review,” and “performance application” proved out of be reliable and validated when it will be tested in case of SMEs’ high-growth sectors and high-impact sectors.
Originality/value
The main contribution of this research is that all factors have a good fit and acceptable reliability value; each factor can be measured individually depending on the nature of the research.
A comprehensive KPI network for the performance measurement and management in global production networks
