Performance Performance Management Management is a broad topic, which relates to the measurement and data collection, processing and analysis, understanding and report generation of leaders to make well-informed decisions to move forward in the company of its efficiency and productivity. It combines many methods of mathematics, statistics, business administration and other studies and built a complex system of reporting them.
It is important to realize that to some extent you can use a common management of the overall performance of the system, but from then on you need to tailor it to their needs. The methods and principles are the same, but the data requirements and the way in which the system makes use can be very different.
Just through a simple example, let me show you what I mean. Come to think of a company that produces food for customers and a company that produces food for the poor in Africa. The first is a Plc, while the latter is a nonprofit organization. Both companies are based on the same data. They cost because they have to recruit manpower, pay utility bills and so on, and your product is same.
Despite this, the charity, as the name implies, not-for-profit. So while 4% of profitability for the Plc. It can be a great disappointment to its shareholders, the main concern for the charity is the number of people who fed.
This is the reason for the lack of unified management systems. However, we can classify businesses, and therefore performance management systems also, in some guidance. We can speak of for-profit, cost-oriented, investment-oriented, and other guidance systems.
All they require a performance management system, as the light that we see through the company is very different. A cost-oriented performance management system& 39;s objectives are to analyze the cost structure through consecutive years and minimize them. The goal of an investment-oriented system is quite different, because the initial costs are very high, the system should have a longer term view.
The performance management system is constructed of two real key parts in terms to the corporate structure. The first part is the process of collecting the data. In most cases this process is already under way in a company, as data can be adequate peeled off the balance sheet, cash flow analysis, and so on.
The second part is the key control department of the company that takes this data and analyze it with the methods that are best suited to the technology of company.
On side of things, performance management systems, from the software side, they have to be implemented by the department control, along with information technology. Many of these functions are integrated into the reporting and accounting software that the company uses, since they mounted the balance sheet, it is very easy to extract information it.
The with the methods the company uses to manage its performance can also be encrypted He added that the software for automatic data analysis. Analysts job then is to make recommendations on the basis of data to address. ileana keith
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