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JOB TALK--THE HEART OF PRODUCTIVITY
Read the word "productivity" and chances are you envision assembly lines, warehouses stocked with goods, even space-age machinery performing tasks at faster-than-human speed. Or if you are in corporate management, your mind recalls the U.S....
Millionaires Name Top Choices for Holiday Gift Wish List
Top 5 Choices Vary by Age, Gender, And Level of Income or Net
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From among more than 16 possible choices, the wealthy selected
clothing, gift certificates/money, and books/CDs/DVDs as the top
three choices on their wish list for...
PR: Let's Dump the Smoke and Mirrors
O.K., press releases, broadcast plugs, special events and
brochures help business, non-profit, government agency
and association managers move a message from here to
there. And that’s an important and useful function, but
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Succession - Three Tips to Ease The Transition
Succession - Three Ways to Ease the Transition The succession process can cause havoc in the family business and the family. Especially if the process occurs only once and without a significant investment in planning. Here are three ideas to help...
The Role of the Business Model and Strategy for Business
People will always stress that having a well researched business plan is key before you start your business. Although creating a business plan is often an important step in the evolution of a business, particularly if you need financing or you...
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Performance Measures: A Key to Organizational Success
Performance Measures: A Key to Organizational Success By: Satgin
Seraj
In order to succeed in today's complex, fast paced and
competitive business environment, organizations need to utilize
tools that help them gain and maintain a strong position in
their industry. More specifically, management needs to utilize
comprehensive tools that help them track and analyze projects,
employees, processes, etc. There are many circumstances in which
the aforementioned, as well as, other factors, do not function
in the capacity or manner that is conducive to goal achievement
and success. To remedy this situation and to increase the
overall knowledge regarding an organization, management needs to
utilize tools that better help them achieve their goals. An
essential tool that can be utilized by management to assess an
organization's performance is performance measurement.
The utilization of performance measures helps organizations
enhance their operation's performance. They provide both
qualitative and quantitative methods to track, analyze and
characterize performance. In addition, performance measures
provide management with the tools needed to track an
organizations progress against its strategic plan and set goals.
Moreover, this measurement technique provides management with a
mechanism to manage its financial and non-financial, tangible
and in-tangible aspects of their organization. It is vital for
an organization's success and competitiveness for managers to
actively monitor and control functions. Identifying key
performance indicators and measures and comparing them against
established target values for those indicators, provides
comprehensive and analytical methods to measure organizational
performance and help monitor and control functions.
Organizations succeed when their units,
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support functions and
employees work together in a manner that is conducive to goal
achievement. Performance measures provide tools for management
to align the organization's activities, including the above, to
its strategy by monitoring performance. Thus, helping management
better pin point and understand strengths and weaknesses within
the organization. As a result, they are better equipped to
address concerns and develop strategies to enhance strengths and
remedy weaknesses. There are numerous types of performance
measures that can be used. One example of a performance measure
that can be used is benchmarking.
Benchmarking is an effective tool that can enhance
organizational performance and its overall effectiveness and
efficiency. It can help management evaluate factors that affect
an organization's productivity in relation to the best practices
regarding the same factor(s). More specifically, benchmarking
helps management to have a point of reference for measurement of
various aspects and factors concerning their organization,
including employee performance, project success levels, etc.
Management cannot effectively govern and manage an organization
in an information vacuum. In order to facilitate the development
and maintenance of an efficient and effective organization,
management needs to utilize tools that provide a balanced,
comprehensive and analytical perspective on their organization's
strengths and weaknesses. A fundamental tool that can be
utilized to attain such a perspective is performance
measurement, which includes benchmarking. On a final note, a
balanced approach to performance planning, measurement and
management is a key component to help an organization better
achieve success and maintain a strong position in their
industry.
About the author:
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