(Beasley, Branson, and Hancock, 2010, paraphrased)

Srimai, Radford and Wright (2010) report that management needs "arriving from the evolving business ecology and focused on creating and sustaining competitive advantage, drive the destiny of PM systems during their evolutionary progression." (p.662) Management tools that presently exist are reported to be reflective of the "result of prior choices in the search for distinct performance measurement capabilities. Their evolution embodies trends in the development and use of performance measurement systems over long periods, and also points the way for future performance measurement to develop and evolve." (Srimai, Radford and Wright, 2010, p.676)

Gordon, Loeb, and Tseng (2009) write that enterprise risk management (ERM) is a holistic approach to risk management and state that the "relation between ERM and firm performance is contingent upon the appropriate match between ERM and five factors which include those which affect a firm: (1) environmental uncertainty; (2) industry...
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