The main aim of this paper is to analyse, compare and summarize the strong and weak points of the most widely cited performance measurement systems on the basis of literature review. Specifically, the literature review was conducted with the goal to searching papers and case studies that are directly or indirectly concerned with performance measurement systems or models. Based on different background, characteristics and premises, comprehensive view on strengths and weaknesses of each system in the aspect of performance measurement is provided. The performed analysis presents that every conceptual performance measurement system has a clear theoretical background, but seldom provides detailed guidance on how a company should design its unique model. Therefore, it is necessary to conduct further research focused on fulfillment of the company specific measurement needs, particularly at the operational level.

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The task of each firm’s strategic management is to identify those sustainable sources of competitive advantage that represent a way to achieve business goals and competitive advantage. Business management should be able to define determinants that fundamentally influence the innovation activity of business. Innovation leaders are influenced by the same set of determinants that allow them to maintain their position in the market. Identifying these determinants is a key source of knowledge for defining or adjusting corporate strategies, enabling sustainable benefits and for efficient building and functioning of countries’ innovation ecosystems based on cross-agents’ interactions leading to sustainable development. The goal of this paper is to identify the combination of innovation determinants in Dynamic Innovation Strategic Model (DISM) driving creation and sustaining innovation leaders’ competitive advantage in selected European countries belonging to the group of moderate innovators. Likewise, authors define a unique set or combinations of factors that will (fundamentally embedded in a company strategy) have a significant impact on the innovative production of the business, which are one of the key elements of innovative ecosystems. With the use of CIS data (from Eurostat) on the innovators and followers of nine EU countries and own regression models, the key determinants of the success of the innovation leaders and followers were found. These determinants are (also in appropriate combination) mainly: in-house R&D activities, co-operation with various partners, and marketing and design. The results clearly show that for innovative leaders, key determinants have a positive impact on produced innovations; for the followers, the same group has a negative influence.

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Public sector organizations face a lack of efficiency and ineffectiveness in providing their mandates due to fear of change among the public service workers. Public sector managers can instill a high performance-driven culture in employees of the public sector. For this reason, the study aims to define a set of key characteristics of organizational culture that contribute to effective performance measurement and management of public sector organizations. The qualitative research method is employed in this paper using case study comparative analysis. To get the objectives of the study, selected local governments from three different Nordic countries are analyzed. As discovered from the case study analysis, these local governments have successfully constructed and implemented performance measurement and management systems. Concurrently, they practice performance-driven culture key characteristics to achieve their organizational targets without any significant difficulties. Three key characteristics (strong performance-driven leadership, report and communicate performance, review and discuss performance) are used in all selected local governments, and one (the reward system) is missing. All four key characteristics are employed only in Helsinki, which is a benchmark for other local governments. This study’s results can thus serve as an example of best practice for other public sector organizations within Europe.