Performance Measurement to Support Business Strategy - Identify examples of nonfinancial performance measures and discuss the potential for improved performance resulting from improved activity management
4 important questions on Performance Measurement to Support Business Strategy - Identify examples of nonfinancial performance measures and discuss the potential for improved performance resulting from improved activity management
Performance measure must be based on the organizations:
- Responsibilities
- Goals
- Strategies
Which are likely to be different for each organization.
Customer satisfaction measures:
- Quality control (increase customer satisfaction)
- Delivery performance (deliver goods and services when promised)
- Bookings and purchase orders (a decrease in booking and purchase orders sends a signal to management to devote more marketing effort to sales)
- Market share
Functional performance measures:
- Manufacturing cycle time
- Manufacturing cycle efficiency
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Firms often make four mistakes when trying to measure non-financial performance:
- Not linking measure to stratgy
- Not validating the links
- Not setting the right performance targets
- Measuring incorrectly
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
