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Performance indicators are relevant to the following models and theories :– Stakeholder analysis:
recognises that different stakeholders have different views on what constitutes good performance. Sometimes what stakeholders want is different to what the mission statement suggests as the purpose of the organisation. This can be a particular problem when the stakeholders are key-players.Wondering how Performance indicators are relevant to stakeholder analysis?
I can understand it from stakeholder satisfaction only like employee turnover,no of strikes,revenue lost due to strike.It’s the other way round: do stakeholder analysis. Find out, in particular, who the key players are and you know you must please them. You have to find out what they want or need and then, to ensure you supply that, set up performance indicators to measure what you are providing.
If a key player was a powerful, demanding customer, and what the customer demanded was high quality, you have to supply that and measure how you are getting on.
If the customer had little interest in quality and just wanted products that were cheap and cheerful, then there is little point having quality as a performance indicator.
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