Create a new account
FILL IN THE FORM
Check the box if you would like to receive our Weekly Newsletter
LOGIN
TO YOUR ACCOUNT
Remember me
Forgot your password? click here
GET OUR NEWSLETTER
Stay updated
As much as we've grown over the years, we've never forgotten our core values.
Our core values are the pillars that hold us together and keep us standing strong.
They are shared by everyone at Business Unlimited.
Guided by these values, we look forward to bringing you the best possible
NEWS &
EVENTS
DESIGNING THE PERFORMANCE MEASUREMENT SYSTEM
Fri, 2014-02-07

DESIGNING THE PERFORMANCE MEASUREMENT SYSTEM


A firm’s performance measures should:


• Be simple and easy to use.

• Have a clear purpose.

• Provide fast feedback.

• Cover all the appropriate elements (internal, external, financial and nonfinancial).

• Relate to performance improvement, not just monitoring.

• Reinforce the firm’s strategy.

• Relate to both long-term and short-term objectives of the organization.

• Match the firm’s organization culture.

• Not conflict with one another.

• Be integrated both horizontally and vertically in the corporate structure.

• Be consistent with the firm’s existing recognition and reward system.

• Focus on what is important to customers.

• Focus on what the competition is doing.

• Lead to identification and elimination of waste.

• Help accelerate organizational learning.

• Help build a consensus for change when customer expectations shift or strategies and priorities call for the organization to behave differently.

• Evaluate groups not individuals for performance to schedule.

• Establish specific numeric standards for most goals.

• Be available for constant review.


OTHER ARTICLES
Dr. Salim Hajje Regional Director of Business Unlimited, speaking about Franchising during an...
Business Unlimited Europe [BU-EU] franchise development team meeting in Beirut today – Main topic...
BUSINESS UNLIMITED LAUNCHES A NEW PRODUCT FRANCHISE YOUR CONCEPT A ONE-STOP-SHOP Business Unlimited...
DESIGNING THE PERFORMANCE MEASUREMENT SYSTEM A firm’s performance measures should: • Be simple and...
logo
Copyright © 2012 Business Unlimited. All rights reserved.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player