Goal-Setting and Strategies Are Key to Business Success; Keep a Check on Financial, Non-Financial Measures
I understand performance managing my staff, but how do I do the same for my business?
A GOOD performance measurement framework tells the story of your business and helps you to understand your past, present and expected future performance. It focuses on non-financial as well as financial measures.
Metrics should include both lead and lag indicators. Lag indicators relate to your goals and the outcomes or results you achieve, while lead indi- cators relate to your strategies for achieving them and to your business operations. Metrics can be benchmarked against similar businesses, or over time to allow trend analysis.
Developing and using metrics is easier …
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Publication information:
Article title: Goal-Setting and Strategies Are Key to Business Success; Keep a Check on Financial, Non-Financial Measures.
Contributors: Not available.
Newspaper title: Coffs Coast Advocate (Coffs Harbour, Australia).
Publication date: November 7, 2012.
Page number: Not available.
© Not available.
COPYRIGHT 2012 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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