My view is that performance is also a function of time spent on work (WT) and financial resources available (FA). Therefore, the equation could be P = f (A * M * O * WT * FA) or better P = k1 * A + k2 * M + k3 * O + k4 * WT + k5 * FA. Since in this last form we need to measure A, M, O, WT, FA and estimate the parameters k.
I so much agreed with Dr. Pedro. Random Factor has been given less consideration in researches today. My position about Random Factor is that it is an inexplicable phenomenon, and it has romantic relationship with ability, opportunity and motivation in the path to success to a very reasonable extent. However, other variables may also fill the gap. Jerald Hughes (2007) in the publication titled "The Ability – Motivation - Opportunity Framework for Behavior Research in IS " considered "behaviour" as the fourth variable. That does not mean other variables are absent. Variables like group distraction, bad signals from management axis, mental instability and sudden health challenge may also predict performance.
Dear Amer, I think that you forgot knowledge. I understand ability as a possibility to learn something and to get it. But imagine a child with ability, motivated and having opportunity... Will he reach success immediately?
Another aspect: to be in right moment in right place (some kind of luck). Do you mean this as opportunity? Not all opportunities are expressed so strong.
Motivation? For lazy people it is important - they wait for immediate prize, like animals in circus after good performance. Others can perform without motivation. Nobody promises a prize, but they just like to do this job, even without benefits.
Just for the sake of full question understanding: what is the intended meaning of the operator "*"?, because I think the way they interact is relevant, even they are not independent factors, there exist mutual influences.
One of the most important determinants is attitude which is a psychological concept which does not exist at the time of birth of a person and is generally a stable state. it shows how people think, feel and tend to behave with regard to people or/and things. In this context it is attitude about the job and job performance.
Another determinant is the set of Key Success Factors which refer to crucial determinants of one’s success on achieving a certain target. They are vital qualities/traits one should possess in order to accomplish a certain target. They include determination, perseverance, enthusiasm, courage and initiative.
From another perspective for the factors towards successful performance in an institution producing consumer good/servcies
Supply side ( institutional perspective) ability /capability , motivation and opportunity Demand side ( consumer perspective) acceptability, accessibility and affordability
The broad domain of personality factors would be important to include? Please also see Hunter and Schmidt (1998) at psycnet.apa.org/psycinfo/1998-10661-006. It is also important to note that performance consists of different subdomains, including task and contextual performance (for example). So the equation you are proposing can be applied to different types of criteria.
I am not surprised that trust was forgotten by all your comentators, it is the hidden factor that is mostly forgotten. I also as a manager for almost two decades before becoming researcher did not realize the simple truth that without trust between managers and managed as well as among practitioners of all ranks performanace always suffers no matter how able, motivated, have best opportunity, and resourcefull actors' situation. The ad of a consruction company on my office's wall says: "The Comapny Stands on Trust"; my 40 years anthropological research corrobrated it, no any organization succeeded perfoming effectively for long without trustful relations among main actors. See my recent book "Mismanagement, "Jumpers," and Morality" (New York: Routledge, 2017; available a free electronic version to anyone interested in writing a reviw) and a paper on Fox's (1974) forgotten concept of descending trust spiral (I'll be glad to hear comments on this paper). .
I will add "Preparation" or "Training", because one thing is to have ability for something, but there are some skills or abilities that may be learned or improved with practice, training or preparation.