The proliferation of performance measures and performance measurement systems is well documented and this has raised the question of just how much does it cost companies to measure and analyse such vast quantities of data.
Let's look at the guiding principles for sound workplace relations, to become an innovative business, to become a profitable business and to shockproof your business.
Effective cash flow management is an essential consideration in any business. Not only is effective cash flow management critical in the current economic climate, many other factors can impact on a business operating successfully in today's marketplace.
Many businesses struggle to improve their value because they do not have clarity about what their business is worth and what drives that value. If you can’t measure it, how can you improve it?
Revenue is too often the forgotten side of the cost management equation. Cost management is the management, not just the measurement, of cost.
Benchmarking has gained popularity since the 1970s and has become a common component of Total Quality Management (TQM) programs taken up by large entities. Although small businesses are generally aware of the concept they often shy away from benchmarking because of time and cost issues. Yet benchmarking is appropriate for any business, small or large.
Successful producers sell items for more than it costs to make. Customers buy when they judge items to be worth the purchase price. Producers and customers both profit when the benefit to them exceeds the cost based on informed choice by the customer.
Business performance measures so integral to the building of systems, that lead to the continuous improvement of team performance. There is a crucial hierarchical contribution performance measures can make to the successful implementation of the initiatives which follow.
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