An Assessment of Business Performance Measurement at a Petroleum Refining Business Unit in Ndola

Abstract

This study involved the assessment of business performance measurement at a refining business unit, in Ndola, Zambia. The goal of the study was to assess the current business performance measurement at the business unit, its significance on organisational performance and how it could be enhanced. This was done by using a survey method through a questionnaire distributed to a sample that was selected by stratified sampling and analysing the collected data to assess the knowledge, opinions and attitudes of the respondents as regards business performance measurement in the selected organisation. The research found that while business performance measurement exists in the organisation, the business unit concentrates more on business performance measures that enable it communicate business results to shareholders and industry regulators than measures which facilitate improvements in efficiency and business competitiveness. To enhance business performance measurement, the business unit should modify its current business performance measurement system, aligning it with a framework that will enhance internal business processes, satisfy multiple stakeholder needs and achieve greater growth and competitiveness.