Organisational and Managerial Performance

4847 WordsMar 3, 200820 Pages
ENVS1130 E.J. de Renzy-Martin Foundations of Management December 2002 Coursework 1 Organisational and Managerial Performance 1. How, when, where and by whom should organisational, managerial, product and service performance be measured? It has never been more important to accurately measure business and managerial performance. Since the post-War renaissance, companies' prospects of obtaining a competitive advantage have solely depended on a combination of the expertise, knowledge and skills of its staff. There is, however, no single measure of performance in any situation. A large proportion of performance measures are qualitative not quantitative, and therefore value judgements can only be calculated with…show more content…
Continuing feasibility is further likely when concerns and interests of each individual party are recognised, reconciled, and satisfied successfully. . (a) The Company It is important, when identifying specific measures, to remember that this performance can only be measured against previously set aims and objectives, which differ on different levels within the company. There is the need for these aims and objectives to be specific, by means of identifiable and quantifiable measures; measurable, so that success and failure can be identified; achievable, recognizable and time constrained, so that a record of progress can be established. A company produces large amounts of statistical and financial information every year; concerning their markets, competitors, suppliers, customers and staff. The need to understand these figures is vital, so that conclusions are drawn and objectives resolved. Executives and top managers can then asses this information, and use it to ensure the continued success of the organization. Staff should also maintain an interest in these statistics – business and financial strength indicates the stability of their employment. Ultimately, all organizations are eventually judged on their financial performance. Furthermore, qualitative measures would have to be analysed.
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