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MANAGEMENT
Data are simply representations of facts that come from some type of
measurement process.
Measurement is the act of quantifying the performance dimensions of products,
services, processes, and other business activities.
Measurement and Indicators refer to the numerical information that results
from measurement.
The term Indicator is often used for measurements that are not a direct or
exclusive measure of performance.
The aim of measurement and analysis is to guide an organization toward the
achievement of key business results and strategic objectives and to anticipate and
respond to rapid or unexpected internal or external changes.
Osborne and Gaebler make three insightful observations:
1. If you dont measure results, you cant tell success from failure.
2. If you cant see success, you cant reward it and if you cant reward
success, you are probably rewarding failure.
3. If you cant recognize failure, you cant correct it.
Information
Is data in context of a business or organization.
Is derived from the analysis of data.
Good information allows managers to make decisions on the basis of facts,
not opinions.
THE STRATEGIC VALUE OF INFORMATION
Individual Level
Process Level
Organization Level
They help the company know that customers are receiving appropriate levels
of service because indications are used to measure service attributes.
Data and Information are the forces that drive quality excellence and improve
operational and competitive performance. Some of the key practices are
summarized here.
1. They develop a comprehensive set of performance that reflect internal and
external customer requirements and key factors that drive the organization.
2. They use comparative information and data to improve overall performance
and competitive position.
3. They continually refine information source and their uses within the
organization.
4. They review organizational performance using sound analytical methods to
assess organizational success, competitive performance, and progress toward
achieving strategic objectives, and they use the result to identify priorities for
improvement and daily decision making.
5. They involve everyone in measurement activities and ensure that
performance information is widely visible throughout the organization.
6. They ensure that data and information are accurate, reliable, timely, secure,
and confidential as appropriate.
7. They ensure that hardware and software system are reliable and user-friendly
and that data and information are accessible to all who need it them.
8. They systematically manage organizational knowledge and identify and share
best practices.
THE SCOPE OF PERFORMANCE MEASUREMENT
THE BALANCE SCORECARD
The purpose of the balanced scorecard is to translate strategy into measures that
uniquely communicate your vision to the organization. Their vision of the balanced
scorecard consists of four perspectives:
Financial Perspective
Internal Perspective
Customer Perspective
Innovation and Learning Perspective
The Malcolm Baldrige Criteria for Performance Excellence Results category groups
performance measures into six sets:
Customer
Product and Service
Financial and Market
Human Resource
Organizational Effectiveness
Governance and Social Responsibility
THE ROLE OF COMPARATIVE DATA
Looking at data without a basis for comparison can easily lead to a false sense of
Many
Dashboards often use graph, chart, and other visual aids to communicate key
measures and alert managers when performance is not where it should be.
ALIGNING STRATEGIC AND PROCESS-LEVEL MEASUREMENT
Aligning strategic and process-level measurements is vital to a high-performing
organization and can be viewed as an approach for strategy deployment. Alignment
might even go further, down to the team and individual levels.