Defining and Measuring Overall Performance In Emerging Countries: A Comprehensive Financial Perspective Review

Abstract

In the ever-evolving business landscape post-COVID, companies face intense competitive pressure and must integrate performance and responsibility through sustainable practices. In this regards, financial performance alone is no longer sufficient to gauge success. Overall performance has become the primary objective for firms, especially in emerging economies, as it ensures holistic development and effective results. Embracing sustainability and measuring success across various dimensions are crucial for achieving long-term growth and resilience in the face of uncertainty. However, defining and measuring the multidisciplinary concept of “overall performance” remains extremely challenging and continues to be the subject of several academic controversies. The aim of this article is to delve deeply into the complex and multidimensional concept of overall business performance in emerging economies and aims to provide researchers, practitioners, and policymakers with a robust conceptual framework to define and measure overall performance in a changing economic landscape. In doing so, it contributes to shedding light on ongoing debates about evaluating business success in emerging economies while promoting a more integrated approach that considers both financial outcomes and social responsibility. Ultimately, this article aspires to stimulate deeper reflection on how businesses can thrive and positively impact society in a rapidly evolving world.