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Well-constructed performance measurement systems provide a means of comparison between various products, services, and business units by ensuring relevant measures are horizontally shared across the organization. Horizontally shared performance measures, having consistent units of measure that are uniformly and precisely interpretable, enable comparison between products and services, divisions, departments, work groups, and individuals. Possessing these […]
Performance measurement systems should be anchored on the single measure of organizational success (defined by the organization’s mission) and vertically cascaded down through the organization Each successive measurement tier becomes more specific than its predecessor with the lowest tier describing individual contributor behaviors and resulting outcomes. A vertically cascaded performance measurement system drives alignment to the organization’s mission. […]
A company’s true value is largely determined by its long-term performance potential as shaped by management’s decisions made today. These decisions guide the translation of the company’s mission, its purpose for existing, into the products and services it provides and hopefully the market wants. Strategic planning is an iterative, ongoing process consisting of: Analysis: assessment […]
Performance measures serve to align an organization’s efforts to the achievement of its mission. As part of a company’s evaluation and control program, they quantifiably monitor important characteristics of the company’s products and services and the performance of the individuals and processes creating them. Performance measures support managerial decision-making by providing useful information regarding: how […]
The terms management and leadership are often used interchangeably and managers are frequently assumed to be leaders. Nothing could be further from the truth. The function of the manager, and therefore the definition of management, is to direct or supervise the resources under his or her charge to the accomplishment of managed group’s assigned work. […]