Several measures of organizational performance are discussed and evaluated in this paper which include firm survival measure, accounting measures, net-present-value measure, and multiple stakeholders measure. All of these measures have both strengths and weaknesses and can be classified along a continuum ranging from input to output measures. Some principles and situations of using appropriate performance measures are proposed for firms with different organizational life and operating in different environmental settings. Package approach, on which theory and practice seem to converge, is now increasingly valued and accepted as an ideal performance evaluation approach.