Organisational and Managerial Performance

In accounting there is much to be learned, about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements, which help accountants and the public grasp the overall financial condition of a company. The information in these reports is really significant to, managers, owners, employees, and investors. Managers of a business can take and deduce financial

Performance management is a process, which supports employee engagement and where an employee’s work reflects organisational goals. It is about achieving results through individuals and teams to improve the performance of the organisation (Armstrong, 2009). The outcome of performance management is visible through financial performance, productivity, quality of the product and service, customer satisfaction, employee engagement and talent retention. Performance management offers competitive advantage and brings positive benefits including increased profits, higher cash flow, and stronger stock value. Productivity is lower if performance management is not present (Maley, 2012). To measure effectiveness of performance management it is important to define the goals of the organization as well as indicators of success. The measures method should provide balanced information based of financial and non-financial performance (Dti.gov.uk, accessed on 01/03/2014). There are several methods used to measure performance management. Armstrong, 2009 lists good ways to measure performance management effectiveness to be KPI’s, business results, engagement level or customer satisfaction. Another way to assess performance management is to use score card, which can also help to align individual performance with strategy.

Measuring performance means when a business will measure the quality of the activities that are passing and the quality of the services provided to the customers by employees. It involves creating a simple, but effective, system for determining whether organizations meet objectives. It’s also a process of collecting and reporting information regarding the performance of an individual, group or organizations. It can

It is important to view measurements as a way of improvement. Without knowing areas of weakness how can we better our position? The author notes the importance of transformational measurements as making a difference, (Spitzer, 2007). As the organization improves upon their progress, performance measurements are an effective method of capturing progress, when performance improves so does the environment, (Spitzer, 2007). People feel good when they see positive results, (Spitzer, 2007). Measurements are very effective for establishing a steady rate of progression in reaching individual and organizational goals, (Spitzer, 2007). Measurement is life; it is something that occurs in just about everything we do, (Spitzer, 2007). Measurement is more than just numbers it also pertains to how we feel, how we interact socially and our overall health. Organizations need measurement to remain competitive, they measure productivity and marketing skills to improve their position within society, (Spitzer, 2007). In order for management to be effective, their method of measurement must be in line with the objective. The author explains that rewards are great for continued progress and motivation, but when not measured effectively it can be very disastrous, (Spitzer, 2007). Employees are rewarded for the wrong thing, which in turn sends the wrong message, (Spitzer, 2007). An

Working closely with Bradley Stonefield, the consulting team has been able to gather the important data and information necessary to construct a viable and effective performance measurement system for his company. According to a recent interview, the following information was presented:

Organizational evaluation or assessment measures, compares, and analyze the coherence between results and specific objectives. Evaluating goals of a global operation with a unified approach is challenging, and demands for identifying significant factors in the performance and growth of the company. These factors are carefully thought and practiced before they become critical contributors in an organizational performance. Contemporary organizations follow diversified growth parameters for success. These have varied degrees of significance in individual market segments. There are different standards and tools to evaluate their

The Performance Measurement Questionnaire (PMQ) proposed by Dixon (1991) serves as a straightforward, decision-making tool for managers. It is structured in a form of questionnaire that addresses the suitability of a firm’s performance measures in relative to its improvement aims and objectives. This tool also used to evaluate the consistency between the firm’s strategy, corrective actions and measures. The PMQ is divided into four parts. As the first step, it must gather general data to identify and classify the respondents.

The high-performing company that I discovered was Starbucks. If you ever drive by or go into a Starbucks you will find lots of business and smiling faces regardless of the cost of a venti coffee. The reason is it’s not just about the beverage, it is about the way the company is managed. From the decor to the service you receive is all part of

Performance measures may be selected to directly measure areas that provide competitive advantage and that increase customer and

Measure things that add value to organizational decisions. Measuring for the sake of measuring is a waste of time.

The focus of this paper will be on investigating an organization, their performance management system and our recommendations for the future. Historically performance management is defined as evaluation a firm through metrics such as return on investment and economic value added. Our analysis will cover not only the financial performance of our chosen firm, but also their values in behaviors as well as their objectives. Thus, we will ascertain if the current system of performance management held by the firm is aligned with their objectives and appropriate for their situation.

Thereafter, the development and management of performance indicators can be directed to monitoring the evolution of the company's results and serve as a reference for the decision-making process and the creation of improvement strategies. To analyze organizational performance, once you have the information you need, a spreadsheet is enough. By organizing the data collected per month, for example, it is possible to visualize the performance of the company over time and, from these data,

“There is no question that the performance of leaders and managers can have a truly significant impact on organisational performance, both in the immediate and longer term.” (Department for Business, Innovation and Skills, 2012, p8)

Since time immemorial is considered as a performance measurement tool for the importance and effectiveness of the management organization to control and to ensure appropriate performance goals and organizational goals.

Performance measuring is vital part which assessing value of employee and management. Performance can be measure through employee’s overall impact cost efficiency and effectives. (Anon., 2017)