Model of Performance Measurement and Management System in “The Visegrad Group”

This article summarizes the model of the performance measurement and management systems in Industry 4.0. in the Visegrad Group (V4) countries. The main goal of the research is to suggest a Performance model and management system model (PMMS). Methods of research were focused on using the questionnaires method with the Dillman method and five research questions (RQ1-RQ5). The object of research comprised of 60 industrial V4 companies with the direction of law form, count of the employee, revenues, and type of industry. The return of the questionnaire was 49 respondents of 60 respondents - companies. 42 companies monitor financial performance and 40 companies’ employee performance. Information sources for measuring performance are information systems that are use 39 companies and 39 companies use financial statements. 19 companies use less than 10 KPIs, and 28 companies monitor KPIs throughout the year. The new model of performance measurement and management system in Industry 4.0 is a competitive advantage in the global market and in the hyper-competitiveness environment.