Practices of performance management system in Bangladesh: an empirical study among three different industries

Abstract

Throughout the world, performance management system is considered to be of one of the most important management practices in all types of organizations for many years. It is a new phenomenon in the developing countries especially in Bangladesh. The aim of this study is to identify the level of practices of performance management system and to see whether this practice varies or not across three different industries such as ‘electronic media, commercial banks, and pharmaceuticals’. These three different industries were chosen because these industries represent three different aspects of management and variation of final products. For conducting this research, 252 respondents were selected from three different industries in equal number from each industry. Data have been collected on twenty different variables that indicate the practice of performance in an organization. The findings of this study showed that the practice of performance management system is high among the three above mentioned industries and this practice is significantly varied in 12 variables out of 20 among these industries (P values: 0.002; 0.001; 0.004; 0.023; 0.041; 0.004; 0.003; 0.001; 0.004; 0.004; 0.001 and 0.012). Finally, this study gives some suggestions about how organization can improve the practices of these sophisticated and well accepted systems.