Performance Management: Putting Research into Action

Conclusion

In today’s globalized, fast-paced, and interconnected world, it is relatively easy to gain access to the competition’s technology and products. Thanks to the Internet and the accompanying high speed of communications, technological and product differentiation is no longer a key competitive advantage in most industries. For example, most banks offer the same types of products (for example, different types of savings accounts and investment opportunities). If a particular bank decides to offer a new product or service (for example, online banking), it will not be long until the competitors offer precisely the same product. As noted by James Kelley, performance management project leader at Idaho Power, “Technology is a facilitator, ...