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The study examines the concepts of performance, performance measurement and evaluation, which are important phenomenon for every business. First, a literature review is conducted using the Web of Science database. Then, the concepts of performance, performance measurement and evaluation are examined theoretically; and performance evaluation approaches are discussed. As a result of the literature review, 360-degree performance evaluation system, which is one of the modern methods that has not found many places in the business administration literature, is examined in detail, and a general framework is tried to be formed on the subject. Consequently, it is determined that 360-degree performance evaluation system cannot provide a single handed and direct solution to performance problems. However, when the system is carefully prepared and applied correctly, it moves away from the tendency of firms to see the individual as a mechanical production material, which is caused by classical performance evaluation methods, and leads them to the tendency to see them as "human". [ABSTRACT FROM AUTHOR]