Infrastructure Elements: Managing for Results Term Paper

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The specific performances to be measured will then relate to the specific company involved. When performance is measured, there is also a greater clarity of mission. This can then be modified according to the findings.

A clearly defined mission statement is then at the core of such a performance measurement system. Performance is measured against the goals set at the inception of the company. Stakeholders both inside and outside of the company are used for reviewing performances. Operational and strategic performance measures are developed after defining and implementing the mission statement.

Performance measurements can then occur at both the operational and strategic levels. At the operational level, managers use the results to plan and control the operational level of the business, while strategic performance measures are used to acquire a wider picture of the issues involved and the performance of the company.

Another advantage of performance measurement systems relate to everybody associated with the company, including the general public and customers. Company programs are related to the public in a way that is clearly understandable by means of performance measurement systems.

Costs also form part of a company's performance measurement.

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This includes evaluating the efficiency, effectiveness and equity of elements within the company. The cost would then be not only in fiscal terms, but also in terms of any lack of the above desirable qualities measured. Costs that relate to these qualities are often the result of a certain set of values relating to the best interest of the public or customer. Performance measures can then serve to also improve a company's service quality towards its customers.

The purpose of performance measurement systems is then to provide companies with the necessary information regarding the effectiveness and efficiency of all the elements within the company. Progress is measured in terms of attaining goals, and modifications are made as needed. The best strategies for improvement can then be selected based on these data. Furthermore the best strategies for ensuring customer satisfaction and return are also determined by performance measures.

Performance measurement systems are thus used to improve the overall quality of a company for both the professionals attached to it and the public served by it......

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"Infrastructure Elements Managing For Results" (2005, February 14) Retrieved May 20, 2024, from
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