involving them in task(s), retaining high potential employees, and cultivating a culture that may inspire workers (at all levels) to meet organisational objectives.
According to Costantini and Zanin (2015), non-financial metrics increase the relevance of a business, contribute to the production of value for consumers, and protect an organisation from the influence of its competitors. The next part provides a comprehensive discussion of the company performance measurement, building on previous research for support. Since the primary objective of this study is to analyse the economic performance of small and medium-sized enterprises (SMEs) in the UAE, a discussion on the measurement of economic performance in the banking sector is also included. Having said that, Tidd and Bessant (2018) pointed out that the business environment is quickly changing, which causes several obstacles for businesses in terms of meeting and surpassing the expectations of their customers. This is despite all that has been said above. As a result, companies need to go farther than the conventional methods of measurement. Instead of using standard metrics that have a restricted emphasis, Refaat and Schmidt (2016) proposed that organisations should be able to take into account all of the operational components and market considerations when determining how well the firm is doing.
describes as (Olsen & Eadie, 1982 p.4). On the subject of the significance of strategic planning, a sizeable number of experts have amassed a substantial body of knowledge throughout the years (Chelariu et al., 2002; Moorman & Miner, 1998a). The current demands of the corporate environment and the extraordinarily rapid changes that have occurred over the past few years have resulted in the management being forced to deviate from the conventional and traditional approaches and seek out new options to strategic planning. This is a direct consequence of the fact that the corporate environment has become increasingly demanding (Wind & Mahajan, 1997). The rapid shifts that are occurring all across the current business climate have made it very difficult for companies to formulate long-term strategy. As a direct result of this, employees are often pressured to take quick action before having the opportunity to carry out a comprehensive analysis of all of the options that are at their disposal.
SI is a relatively young subfield of management science that focuses on the discovery of solutions for the challenges that businesses face while attempting to adapt to an environment that is always changing (Bakar et al., 2015a; Hadida & Tarvainen, 2014;
Kamche & Cunha, 2001; McKnight & Bontis, 2002). In addition, it is generally accepted that an organization's potential for innovation and flexibility, in addition to its ability to formulate an effective corporate strategy, are all hindered when there is a rigid commitment to strategic planning (Slotegraaf & Dickson, 2004).
Improvisation is a relatively fresh notion that is organically varied and may be somewhat chaotic at times. This is true whether we are talking about its approach or its structure. As a result of this, there is not a distinct definition for it, nor are there appropriate arguments as to why it should be used so often inside an organisation
(Hadida & Tarvainen, 2014; Weick, 1998). On the other hand, there is a significant amount of agreement about its several elements (Vera & Crossan, 2004). The term
"improvisation" originates from the Latin word "improvises," which means "not anticipated," according to Schuller, who is mentioned in Barrett (1998). In addition, Schuller said that "impromptu playing" and "impromptu writing" are both aspects of improvisation that go hand in hand with one another.
The success of an organisation is strongly dependent on the presence of excellent leaders in a variety of positions. This is because the skills and capabilities of leaders reflect not just their own performances, but also those of their subordinates, departments, and peers. This is connected to the following skills and capabilities that leaders who hold numerous jobs inside the organisation should have: (Ibrahim et al., 2016). The primary function of leaders is to act as agents of change by conceptualising novel ideas with the goal of bringing about institutional adjustments and improvements. Larsson (2015) emphasised the need for academics to focus more on the fundamental components of leadership behaviours, orientations, and styles as a means of attempting to comprehend performance (Ibrahim et al., 2018) and the primary determinants of quality and productivity. This was done in an effort to comprehend performance (Ibrahim et al., 2018). He argued that this was necessary for a complete comprehension of performance and emphasised its significance.
According to the concept of leadership, the competency of an organization's leader is a crucial aspect in the organization's capacity to discover answers to problems and respond correctly to the current dynamic environment (Uhl-Bien & Arena, 2018). As a consequence of this, organisations of all sizes, including SMBs, must undertake
structural and operational changes that place a premium on adaptability. Because effective leadership is required to ensure performance, the only way to achieve longevity and relevance in an environment that is constantly shifting is through the efforts of the leadership, which is the primary driving force. This is because effective leadership is required to ensure performance. This is because there is a significant link between effective leadership and high levels of performance (Ahmad et al., 2015). As a consequence of this, small and medium-sized enterprises (SMEs) have developed into a political arena that places a focus on the need for academic leaders who are clever, competent, and resourceful in order to guarantee the continued relevance and viability of a firm. To be more specific, the viability of small and medium-sized enterprises (SMEs) in the contemporary business environment requires the presence of leaders who are skilled in entrepreneurial endeavours, politics, and emotions, in addition to being proactive and methodically organised, and who are receptive to the many different situational demands that are constantly arising. This is because SMEs are more likely to be disrupted by large corporations than by smaller ones. This idea is compatible with the findings of Kang et al. (2015), who discovered that the behaviours of leaders vary depending on the circumstances that are present in the environment. As a consequence of this, individuals in leadership posts within academic institutions are obligated to serve as a model by serving to motivate, assist, and encourage others. The reactions of individuals will be more significantly impacted as a result of this.
Although intelligence, degree of commitment, and quantity of hard work all play a significant role in determining a leader's success and performance, the ability to be flexible in one's behaviour and adapt to changing situations also plays a crucial role in
determining a leader's success and performance (Sony & Mekoth, 2016). When a company decides to embrace an entrepreneurial culture, one of the most important components of the necessary organisational transformation is for leaders to behave in a strategic and entrepreneurial manner. This is especially the case when the entrepreneurial spirit permeates the very fabric of the company. The core of entrepreneurial behaviour is that it is a behaviour of influence that helps to instil it not only in other members of the organisation, but also inside the organisation itself. This is true both externally and internally to the organisation (Lenka, Chawla & Smith, 2015). Improvisational abilities and entrepreneurial behaviour of an organization's leaders have evolved into characteristics that are distinctive to all organisations as a result of the necessity of entrepreneurialism and strategic management for the continued existence of an organisation and its continued growth (Clark et al., 2015).
In conclusion, leaders are essential to the functioning of an organisation due to the fact that their abilities, expertise, and competences are used to construct and maintain the organization's vision, policies, strategy, and execution, as well as to monitor the organization's success (Wahab et al., 2016). To be successful in the modern environment, leaders need to be equipped with the information and skills necessary for efficient management and effective leadership. Only then can they hope to achieve success. According to the findings of recent study, the ability of a leader to carry out day-to-day operations effectively must be congruent with the myriad of tasks that they play. This is due to the fact that the success of the organisation and its ability to persist over the course of time are inextricably linked to the efficiency and performance of the organization's leader.
Companies are required, in order to give value to their stakeholders and customers, to discover inventive methods of coping with chaotic occurrences and to diverge from typical practises of strategic planning (Anderson, 2016). This is something that can only be done by adjusting plans to account with the reality of the situation and making decisions based on the acquisition of real-time data. The term "improvisation" is used to describe the process of an organisation departing from its preset plan, and it is this departure that is characterised by the word itself. As a result of this change in terminology, improvisation is now more often known as "informal strategic planning"
as opposed to "absence of strategic planning."
In spite of the fact that improvisation is very valuable, it is seldom used in commercial settings (Krylova et al., 2016). Rather, it is something that never happens until under certain conditions, at which point it necessitates quick adaptation and flexibility on the part of the organisation in order for it to continue existing. In addition to the nature of the surrounding environment being one that is constantly shifting, organisations are forced to contend with a lack of resources, strict time constraints, and one-of-a-kind challenges for which there is no room for trial and error or pre-planned solutions to be implemented. Because of these factors, it is of the utmost importance that the leaders of an organisation have the ability to conceptualise and carry out initiatives that have the potential to enhance the performance of the business. The core of improvisation is the simultaneous preparation and execution of a plan, which acts as a backup strategy in the event of uncertainty and ambiguity. This is accomplished via the use of an improviser's "backup plan." Improvisation may be thought of as a kind of emergency preparedness strategy. Improvisation, as a direct consequence of this, is responding to unpredictable events without the assistance of any prior preparation. Improvisational
strategies drawn from jazz performances are increasingly being used by business organisations due to the parallels between the environments in which jazz bands play and the situations in which companies work (Leybourne & Cook, 2015). Improvisation is used not just in the performing arts, such as music and theatre, but also in other fields, such as sociology and politics, education and athletics, and psychiatry. As a direct consequence of this, several academics coming from a variety of other fields have established a variety of interpretations for the word "workflow management."
Some of these fields include organisational learning and management, as well as organisational design and design for organisations, innovation, product creation, and workflow management.
The concept of improvisation in strategic or organisational contexts is still in its infancy, cuts across disciplinary lines, and is not always well defined. As a consequence of this, it does not have a specific definition, and there is not enough evidence inside the organisation to demonstrate that it does in fact exist. On the other hand, there is a widespread agreement over the many traits it has. According to Schuller, the term "improvisation" originates from the Latin word "improvises," which means "not seen beforehand," "playing extemporaneously," and "composing spontaneously." In other words, "not seen beforehand," "playing extemporaneously,"
and "composing spontaneously."
The notion of SI has been regarded as being an essential one in the administration of modern organisations. This is due to the fact that SI encourages creative thinking, flexibility, and intelligent change, all of which help organisations better coordinate their efforts to meet the many demands of their stakeholders. Improvisation is a
practise that enables individuals, teams, and organisations to come up with imaginative solutions to problems when they are presented with hard circumstances. This may be very beneficial to all parties involved (Camps et al., 2016). It is a valuable method for recognising new possibilities to tackle the uncertainties that organisations confront by producing new ideas, and it may be adopted if organisations decide to take use of its potential. SI is not just concerned with the unexpected or the unknown; it is also concerned with issues that need urgent action and cannot be solved by maintaining the status quo. A connection has also been made between it and the issue of time, in particular during periods of strong demand for the product or service at hand. Himberg et al. (2018) found a wide range of improvisational approaches when conducting their research on the process of developing new products. "Collective vs. individual,"
"product vs. process," and "behavioural vs. cognitive" are some of the many types of improvisation. The process that takes place when improvisation occurs as a consequence of the combined efforts of persons who are employed by the same organisation is referred to as "collective improvisation," and it is a phenomena that has its own name. On the other hand, individual improvisation is the outcome of the thought and labour of a single worker. The process aspect is concerned with attitude, character, and content, in addition to how other normal sequences occur. On the other hand, the product aspect is concerned with how improvisation influences the physical nature of the organization's goals and how other typical sequences occur. Cognitive improvisation involves developing one of a kind strategies for comprehending and reacting to the inputs provided by the surrounding environment, whereas behavioural improvisation is associated with making a commendable effort that will have an effect on the outcomes achieved by the organisation. As a consequence of this, Abrantes (2018) identified several levels of jazz performance, including "interpretation," in
which work is completed by adhering strictly to the original plan, "embellishment," in which the plan is followed only to a certain extent, "variation," in which a new unplanned action is merged with the original plan, and "improvisation," in which the original plan is completely disregarded. Moreover, Abrantes (2018) categorised these four types of jazz performance as "interpretation.
There are instances of SI in both individuals and organisations (Hadida & Tarvainen, 2015). The first kind takes place inside a single individual, but the second kind takes place among a number of authoritative players in an organisation, such as groups, departments, units, and the organisation as a whole. It is possible to examine interactions that take place inside an organisation because individuals are engaged in activities that are improvised. This phenomenon is referred to as "organisational improvisation," and it is made possible because people are engaged in improvised activities.
Because it makes innovation, adaptability, and intelligent change management more possible, systems thinking (SI) is widely acknowledged to be an essential concept in the management of modern businesses. SI is regarded as such an important concept since all of these factors assist organisations in coordinating their activities and managing the varying expectations of their stakeholders (Leybourne, 2006).
Improvisation is a practise that enables individuals, teams, and organisations to come up with imaginative solutions to problems when they are presented with hard circumstances. This may be very beneficial to all parties involved (Nisula, 2015). It is a potent instrument for the generation of new ideas, which may be used to develop inventive ways for organisations to utilise in order to deal with unpredictability (Fisher
& Amabile, 2009). SI is concerned not just with the unforeseen or the unknown, but also with issues that need urgent action and cannot be fixed by maintaining the status quo (Moorman & Miner, 1998a; Weick, 1993). A connection has also been made between it and the problem of time, especially in circumstances in which demand is growing (Leybourne, 2009).
Moorman and Miner (1998) described three unique forms of improvisation in their research on the creation of new products. These types of improvisation were
"collective vs individual," "product versus process," and "behavioural versus cognitive." The process that takes place when improvisation occurs as a consequence of the combined efforts of persons who are employed by the same organisation is referred to as "collective improvisation," and it is a phenomena that has its own name.
Individual improvisation takes place when the improvisation of a firm is the product of the idea and labour of a single worker inside the organisation.
The product element is concerned with how improvisation affects the organization's products in terms of their physical appearance, whereas the process element focuses on how improvisation affects the organization's products in terms of their attitude, character, and content, as well as how other routines are carried out. The product aspect focuses on the ways in which improvisation might affect a company or organisation (Miner et al., 1997; Moorman & Miner, 1998). The term "cognitive" may mean both the acquisition of new knowledge and an individual's reaction to inputs from the outside world. On the other hand, "behavioural improvisation" refers to an independent and laudable effort that can change the results that an organisation achieves.
As a consequence of this, Weick (1979, 1998) differentiates between four distinct levels of jazz performance: "interpretation," which describes a scenario in which the work is carried out in accordance with the original plan in every way; "embellishment,"
which describes a scenario in which the plan is followed to some extent but not strictly;
"variation," which describes a scenario in which a new unplanned action is merged with the original plan; and "improvisation," which describes a scenario in which (Hadida & Tarvainen, 2014a; Hatch, Shrivastava, Huff, & Dutton, 1997; Preston, 1991). Improvisation that takes place inside a single person is referred to as individual improvisation. Examples of individuals that engage in individual improvisation include musicians, athletes, and educators. When a large number of authoritative players within an organisation, such as groups, departments, or units, as well as the organisation as a whole, are engaged, organisational improvisation may take place.
Performers in the fields of firefighting, education, athletics, and music are examples of individuals who improvise (Moorman & Miner, 1998b). Improvisational interactions between employees have been hypothesised to perhaps lead to improvisation at the organisational level (Hutchins, 1991; Mangham, 1986). There has not been a lot of empirical study done on social intelligence; this is especially true when discussing the concept's applications, impacts, and triggers within organisational settings (Cunha et al., 1999; Leybourne, 2009b; Moorman & Miner, 1998b; Vera &
Crossan, 2005). According to a number of accounts, the first ever empirical investigation into the topic of organisational improvisation was carried out by (Moorman & Miner, 1998a, 1998b). There is a lack of empirical research on SI, notably about its usefulness, impacts, and the possible triggers that it may provide in the workplace. It has been connected to earlier empirical studies that focused on the improvisatory nature of organisational structures and systems. As a result of the fact
that improvisation is dependent not only on time but also on day-to-day interactions within the organisation, regardless of its size or industry, the requirement to have an influence on the public sector, particularly on SMEs in the UAE, has increased. This is because improvisation is dependent not only on time but also on day-to-day interactions within the organisation. Improvisation is possible due to the fact that it is based on ordinary working interactions (Krylova et al., 2016).