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Performance management article - Essay Example

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I agree with the article by Kennerly and Neely (2003) who explain that the organizations have realized the importance of using performance management systems, which ascertain that they are in line with their operations. The authors explain that the ever changing business…
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Performance Measurement Performance Measurement I agree with the article by Kennerly and Neely (2003) who explain that the organizations have realized the importance of using performance management systems, which ascertain that they are in line with their operations. The authors explain that the ever changing business environment necessitates alterations to be made on the performance management systems and this ensures that the firms operate under the current conditions effectively.
Performance measurement entails quantifying the effectiveness and efficiency of the system and consequently the success of an organization (Kennerly & Neely, 2003). Measurement of performance is through the collection, analyzing and dissemination of data to assess the production of an individual, group or organization as a whole. For a company’s success in the field, goals are structured as a means for the company to determine its success. This success rate can be measured through financial capacity, the rate of growth of the company or in terms of the quality of the services rendered. By measuring and creating ways to measure the development of the company, it is possible to measure the success of the company. True to many, the business cliché ‘what gets measured gets done’ is complemented by the study.
For a business that is starting up, profit generation is their main objective. Therefore, the managers in charge structure policies that will aid the workforce to attain the necessary goals setup. Use of bonuses is a commonly used method to incentivize the workforce to working better and efficiently. However, change is dynamic and therefore the company’s goals are subject to alteration. As such, the company must know the correct performance measurements systems that help the organization in achieving its necessary goals (Neely, 1999). In the recent past, the use of financial systems to measure performance was common. This enables the firm to know whether they were making the most on their profits, as this is the main objective of any business. From the data collected, the firm can only get the results in figures but no more deductions can be made. However, as the years have passed companies have sought for more complex systems show
An example of its implementation is the choice for a firm to focus more on its customer relation services rather than on sales of the company. This will assist the firm to position itself in the market as an organization that cares about the quality of customer care services. The revised measurement will enable the organization to alter previous culture and strengthen its resolve. The business strategy employed by the company will give them an edge over fellow competitors enabling them to not only survive in the business world, but also thrive.
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References
Kennerly, M., & Neely, A. (2003). Measuring performance in Changing Business Enviroment. International Journal of Operations & Production Management, Vol. 23 No. 2, 2003 Pp.213-22
Neely, A. (1999). The Performance Measurement Revolution: Why Now And What Next? Measuring Performance In A Changing Business Environment, International Journal Of Operations & Production Management; Volume 19 Number 2 Read More
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