Managerial- cheat sheet.docx

4 Pages
43 Views
Unlock Document

Department
Business Administration
Course
Business Administration 3307K
Professor
Terry Webb
Semester
Fall

Description
Performance Measures - Strengths and weaknesses among the whole company - The purpose is to bring concerns to light and address the problems in order to meet company objectives. Goal congruence is an extremely important aspect to any company, and by highlighting these goals, it creates awareness; and awareness is necessary in order to improve. ­ Qualitatively - Balanced Scorecard is a very useful performance measure; as it consists of an incorporated set of measures that is derived from the company’s strategy - The objective is to link each characteristic together in order to satisfy the end goal, the strategy. ­ Companies want to know how well time is being managed, how processes can be done more efficiently, and what improvements can be made in order to achieve better end results. These results provide feedback that will be used with connection to the company’s goals Pro’s for this system ­ they open the lines of communication, they become the catalyst for an improved operation, better allocation of resources, allows companies to benchmark and evaluate. - The objective is to align goals and strategies, by utilizing tools such as the Balanced Scorecard and internal business controls, companies create accountability. ­ Once accountability is established, the intent is not to discipline these individuals; but the results are strongly tied to evaluations. The individuals are highlighted in order to establish a leader to implement the changes, but as performance measures are done on a continuous base, then it allows for a comparative analysis.As the goal is improvement, it thus dictates, how well the individual are improving to meet the over company objectives. NOT FOR PROFIT - The high level objective is to achieve goal congruence; this is achieved when the goals of participants are consistent with the goals of the organization. - The goal of a not-for-profit is to provide a social benefit or service to either the general public or a specific group of consumers; there is no bottom line indicator of success. As such, goals are often less specific and more difficult to quantify in comparison with profit oriented firms. PPBS can best be described through an analysis of its six components: I. Set Goals: Objectives should be concise, future oriented, and should be in close agreement with the organization’s mission and strategic outlook. II. Develop plans to accomplish objectives: Unlike profit-oriented organizations who strategize around their bottom line, NPOs seek to develop policies surrounding the effective allocation of scarce capital. III. Identify resource requirements: NPOs need to determine the cost of each program. IV. Match resources available with source requirements: A critical analysis of each program’s budgetary requirements must be compared to scarce capital resources available. V. Establish a program management system: NPOs need to ensure constant accountability and oversight. VI. Measure and evaluate results: NPOs are constantly comparing their budgeted to actuals. Va
More Less

Related notes for Business Administration 3307K

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit