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Q1: why do we use and measure value metrics when is it helpful Q2: what are the differences between internal and external value metrics Explain how they can complement each other - Essay Example

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Value metrics are used during the cases where the setting of targets is necessary, and where the management and the teams using the metrics need to simplify the setting of the targets. The simplification offered by value metrics allows the management to impose goals,…
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Q1: why do we use and measure value metrics when is it helpful Q2: what are the differences between internal and external value metrics Explain how they can complement each other

Download file to see previous pages... g metrics to incentives increases the performance levels of employees, especially those that are required to work on a specific part of the work process. Value metrics are used and measured because the managers of organizations are, most times, interested in exploring the performance of an organization, beyond the level of return on investment (ROI) (Neely, 2002). Some of the outcome areas that are reflected through the use and the measurement of value metrics include customer interactions, tech-driven innovation and the impact of sales and marketing. Value metrics are used and measured when the management of an organization or business needs to establish the value of a partnership (Segil, 2004).
Value metrics offer the management with a system for gauging the contribution of the relationship, at all stages of the alliance, ranging from the stages of creation to that of implementation and later during the termination (Segil, 2004). Some examples of the metrics that are very useful to businesses include sales increment, market shares, customer satisfaction surveys and margins. These metrics are used by the business, so as to enable it to evaluate its situation, following which they can plan the future outlook of the business. Among managers, value metrics are used and measured, as tools for guiding the process of allocating assets and determining the business strategies to employ (Neely, 2002). Other metrics, including Research and development effectiveness index give the business, the basis for the allocation of promotions and businesses, among the employees and the managers of the business.
The use of value metrics and measuring them is helpful to businesses and managers, whether they are used to influence the behaviours of employees, to establish future strategies or to evaluate the performance of the business – they become influencers to decisions and actions. For example, in the case than organization measures variables a, d, and e, but do not measure b and ...Download file to see next pagesRead More
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