Performance management Models

They all say that measuring financial performmance only tells you the ultimate score (eg better profits) but tell you nothing about how the performance was achieved.

Each blocl/perspective in the models needs its own set of performance measures. So, taking balanced scorecard, in addition to financial measures, you have to set performance measures and measure performance:

Customers: satisfaction, loyalty, their impression of us, how well we please them… Without happy customers there is no chance of good financial performance. Therefore, ustomer attitudes need to be measured and coompared to targets.

Internal business perspective: to get happy customers you have to do well what you procalim you do. For example, gerat quality and/or low prices, reliabie delivery, quick response etc. These aspects also have to be measured otherwise you have no idea whether you are on track.

Innovation: you might be ahead of the game now, but you have to keep striving to stay there because competitors will be trying to beat you. Therefore, set targets for innovation, nre launches, staff training etc.

You don’t necessarily need any meetings to set these. It could be the person at the top telling people what to do. Some sort of participation would help however, to ensure that the many targets were accepted, achievable etc.

For OT we measure number of visitors, new visitors, new registrations etc (customer perspective)

We set targets for answering queries like this and for updating material (internal business perspective)

We develop new products,such as MCQ questions for the F level papers (innovatoin and learning.