A measurement system for managing performance of industrial clusters

Purpose The purpose of this article is to present and discuss a conceptual model for performance measurement and management of a cluster based on the concepts of the Balanced Scorecard and other models. Design/methodology/approach This paper was based on a case research as the field research methodology for theory testing and refinement. Findings The proposed model adequately captures the perspectives of performance management of a cluster, emphasizing the importance of measuring leading and lagging dimensions of performance such as collective efficiency and economic/social results. Research limitations/implications Research is still at an early stage and applications of the model need to be carry on further so as to review and validate it. Practical limitations Absence of a culture of decision making based on analysis of information and lack of resources may create some difficulty in using metrics for a cluster of SMEs. Originality/value The paper proposes applying the concepts and techniques of business performance management and measurement to manage performance of clusters of companies, offering a new approach on how to improve the collective efficiency of a cluster.