In this paper, George Yip and colleagues look at measurement of company performance and the several challenges performance measurement poses, including: balancing short-term and long-term performance, the need to use multiple measures to capture the broad meaning of performance, and finding the right peer comparators. They argue that truly sustainable long term superior performance should be observed over an extended period, and in comparison with industry peers from around the world. They describe how a technique, frontier analysis, can be applied to the issue of measuring performance and apply frontier analysis to several companies in the oil industry to demonstrate how their performance can be ranked even when using eight divergent measures.