Abstract:

In today's highly dynamic business environment, the key to success is to find and maintain a competitive advantage. Therefore, companies strive to be high-performing and are increasingly using performance management systems to manage their performance. However, the composition of this system affects its proper functioning and the results and information it provides to its users. This paper deals with performance management systems, specifically their composition and its shortcomings. Through a questionnaire survey on a sample of medium and large companies operating in Slovakia, the basic components of performance management systems and shortcomings of these systems of the monitored companies are identified. Paper is divided into four main part: introduction, methodology, analysis and discussion and conclusion. In the end a list of references is provided.