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

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.