Measuring the Global Performance of SMEs: An Integrative and Multidimensional Approach

Abstract

Corporate performance is a central topic in management sciences, attracting growing interest both in academic research and managerial practices. It has been the subject of numerous studies aimed at understanding its various dimensions and developing assessment models suited to economic and organizational realities. This article explores the complex and multidimensional nature of corporate performance, highlighting its evolution over time. The main objective is to demonstrate how performance, initially measured through financial criteria, has gradually expanded to include non-financial dimensions, emphasizing the need to consider the multiple facets of business activities. This shift reflects a fundamental change in the way performance is assessed, moving from a purely financial perspective to a more systemic and context-sensitive approach.

The methodology adopted in this study is based on an in-depth documentary analysis, drawing on a broad body of previous research that has contributed to the progressive expansion of the performance concept. By conducting a rigorous literature review, this article aims to identify the key theoretical frameworks that have shaped the discourse on corporate performance and to propose a classification of different types of performance, along with the most commonly used indicators for their assessment.

The study specifically focuses on small and medium-sized enterprises (SMEs), given their crucial role in economic development and the unique challenges they face in managing performance. The findings suggest that it is essential to develop a measurement and evaluation framework tailored to the specific characteristics of SMEs, integrating financial, organizational, social, and environmental indicators. Such a framework would provide a more comprehensive understanding of SMEs’ overall performance while serving as a relevant diagnostic tool that accounts for their particularities.

Keywords : SME performance, Performance typologies, Overall performance measurement, Financial and non-financial indicators.

Classification JEL : L25

Paper type : Theoretical Research