Lesson 8

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Information about Lesson 8
Education

Published on February 17, 2014

Author: tbclearning

Source: slideshare.net

Lesson 8 - Performance Indicators, customer and staff satisfaction, wastage and workplace accidents

Explain what businesses mean when they refer to performance indicators (1 mark) Explanation should refer to performance indicators as methods that are used to evaluate the success of a business against set objectives

Performance indicators

Non financial indicators Customers satisfaction Workplace accidents Level of wastage Benchmarking Staff satisfaction Staff turnover Consider how can these can influence financial objectives

SAC preparation The process called ‘management by objectives’. ! Management by objectives is a process of defining objectives within an organisation so that management and employees agree to the objectives and understand what they need to do in the organisation to achieve them. ! ! These objectives are expressed in a hierarchical form, with the leading statement being the mission statement and extending down to individual employee objectives. ! ! It can also be used as a performance management technique where individual employees set specific, measurable objectives with management and their performance is measured by management against achievement of these objectives.

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