Performance measures

Posted by johnssmith00 on May 31st, 2013

There are numerous definitions of what a balanced scorecard really means. We found that this management system represents different things for different people, and that occurs not only in our country but also in other places. If you want to know the performance measures, smartKPIs.com offers you a vast database with all the KPIs in the world.

The major contribution of performance management is to focus on getting results, for example such products and services for customers inside and outside the organization. The focus is shifted from the effort and time occupation on results and effectiveness. The balanced scorecard can be defined as a technique that allows a company to monitor and manage performance in relation to some specific objectives. Measurements are usually done on financial performance, customer value, internal business processes, innovation and employee’s performance.

The performance management program includes setting goals and standards, defining a performance measurement system, namely performance measures, agreeing on responsibilities, establishing a system of performance-related data collection, establishing a system of analysis and comparison of data on actual achievements and goals / standards; deciding on corrective actions. These elements are configured during the introduction and the course of the performance management programs, by associating them with distinct steps.

With the help of the balanced scorecard you can receive an overview of the performance of the organization. Thus, you can see at a glance whether the organization is on the right course or not. Then you can choose the performance measures that suit you best. You need to know how efficient and effective the services you have to offer are and for that, you need data and facts. If you have objective facts, you will know how to make the right improvements and adjustments.

The balanced scorecard is an organizational communication tool that helps each employee to better understand where the organization where they work is heading, which is the plan to achieve a strategic destination and which is the measurable contribution that their department and they, individually, have or may have in such a convergent effort. Equipped with such an understanding, the employees, directly involved in the planned execution strategy or not, can change and improve, in turn, the ways in which they perform their daily activities through micro-decisions that are simultaneously converging with the strategic plan of the organization and that are complementary to it.

In order to help you, we put at your disposal our latest book entitled “20,000 Key Performance Indicators used in practice” which has 300 pages and contains information from over 15 functional areas and 24 industries. If you want to see a preview, you can request it for free. If you want to order a copy of the book, you can buy it from Amazon or you can order a paper copy from us directly. View KPI stats that are most visited, most discussed, highest rated or take a look at the latest comments.

At smartKPIs.com, you can find various definitions of what a balanced scorecard means and you can find out the performance measures you need to take for your company to develop in the way you want.