Management, PMS

Performance

The degree to which an entity is accomplishing its goals.

The efficiency and effectiveness of past actions.

the execution of an action (…) something accomplished (…) the fulfillment of a claim, promise, or request 

how well a person, machine, etc. does a piece of work or an activity (…) how successful an investment, company, etc. is and how much profit it makes

Organizations achieve their defined objectives – that is, they perform – by satisfying their stakeholders’ and their own wants and needs with greater efficiency and effectiveness than their competitors. The terms efficiency and effectiveness are used precisely in this context. Effectiveness refers to the extent to which stakeholder requirements are met, while efficiency is a measure of how economically the firm’s resources are utilized when providing a given level of stakeholder satisfaction.

• Cambridge Dictionary (Online)

• Franceschini et al., 2019, § 5.1

• Merriam-Webster Dictionary (Online)

• Performance Measurement System (Dictionary Entry)