Performance measurement and management. A literature review focussed on the role played by management theories with a deep dive into the industry 4.0 environment

Purpose The aim of this paper is to review the theoretical lenses used in performance measurement and management in a traditional and industry 4.0 environment and to contribute to understanding the current state of research in the field and its future development. Design/methodology/approach This paper performs a structured review of the existing performance measurement and management literature, with the objective to investigate the current state of research, looking at popular theories in more detail, as well as to propose possible avenues for future consideration for the field to develop further moving forward. Particularly, this paper focusses on and identifies (1) theoretical lenses that are dominating this field, (2) the role played by specific theories and the way different theories are used together and finally, (3) an in-depth dive into relevant theories for performance measurement and management applied in an industry 4.0 environment. Findings Key findings highlight the growing number of publications, leading authors and journals where research is published. The findings also include the identification and detailed analysis of the most popular theories leveraged by scholars also in reference to research methodologies. A thorough analysis of Industry 4.0 performance measurement and management is then carried out, as this is one of the identified emerging themes in the research field. Findings here include the identification of relevant research and the suggestion of significant theories that can help build this specific body of knowledge. Originality/value This research offers a key contribution by providing a powerful "theoretical toolkit" to researchers and practitioners working in performance measurement and management and industry 4.0 fields.