Dimensions of the New Performance Standard in the Context of Digital Economy

Author:Ionica Oncioiu, Florentina Raluca Bîlcan, Dumitru Alexandru Stoica, Alina Stanciu
Position:Lecturer, Valahia University, Romania/European Academy of the Regions, Belgium/PhD student, Valahia University, Romania/PhD student, 1 Decembrie 1918 University, Romania
Pages:275-282
SUMMARY

The entity perspective to achieve and maintain sustainability performance imposes and forces the entity's leadership to synchronize managerial decisions with financial-accounting statements as well as industry predictability reports. This is about increasing the global level of an individual to increasing competitiveness by integrating sustainable innovation and defining by each economic entity... (see full summary)

 
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ISSN: 2067 9211 Performance and Risks in the European Economy
275
Dimensions of the New Performance
Standard in the Context of Digital Economy
Florentina Raluca Bîlcan1, Ionica Oncioiu2, Dumitru Alexandru Stoica3, Alina Stanciu4
Abstract: The entity perspective to achieve and maintain sustainability performance imposes and forces the
entity's leadership to synchronize managerial decisions with financial-accounting statements as well as industry
predictability reports. This is about increasing the global level of an individual to increasing competitiveness
by integrating sustainable innovation and defining by each economic entity what practitioners call the 2030
Purpose. The aim of the present study is to explore new approaches to performance emerging at the strategic
level resulting from t he interrelation of the economic plan with the managerial plan required to occur at the
most profound level: core of the business. The results of this study show the need of framework to integrate an
entity's s ustainability and economic a nd financial analysis into strategy, governance and risk assessment,
performance management and organizational culture.
Keywords: performance; competitiveness; benchmarking; sustainable economic model.
JEL Classification: D83; L25; O33.
1. Introduction
The performance of the economic entity has exceeded its profitability boundaries and any development
strategy involves taking into account, in addition to the KPI’s performance indicators and predictability
and sustainability indicators (Yadav & Sagar, 2013). The fourth industrial revolution underway today
develops technology, talent and new innovation ecosystems - resulting in greater complexity in the final
offers of economic entities. Intelligent technology is fueled by this new industrial revolution (Chen, Li
& Xin, 2017).
In this context, the division of the concept of performance takes place in 3 pillars of action: Pillar One
“Sustainable Performance”, Pillar 2 “Finding and Retaining Talents”, as a source of added value in a
global competitive market, and Pillar 3 Research & Innovation (Davila, 2012). High performance
organizations that record exceptional financial results, have satisfactory customers and staff, high
productivity, encourage innovation and leadership, open up a vast amount of research space for
theoreticians and practitioners in the field (Meuer, 2017). The only certainty is that the economic
1 Lecturer, Valahia University, Romania, Address: Targoviste, Romania, Tel.: +40245206101, Corresponding author:
bilcan.florentina.raluca@gmail.com.
2 European Academy of the Regions, Belgium, Address: Brussels, Belgium, Tel.: +32 478 27 82 53, E-mail:
nelly_oncioiu@yahoo.com.
3 PhD student, Valahia University, Romania, Address: Targoviste, Romania, Tel.: +40245206101, E-mail:
dumitru.alexandru.stoica@ gmail.com.
4 PhD student, 1 Decembrie 1918 University, Romania, Address: Alba Iulia, Romania, Tel.: +40-0258-806130, E-mail:
alecse.alina@gmail.com.

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