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How can we grow our business? What will bring us more success? What is the main driver for favorable results? These are some questions that managers are addressing themselves and whose answers should focus on one essential indicator: keeping customers satisfied.
Companies strive to decrease costs by improving performance with their available resources. This leads to the need for measuring performance through strategic measurement systems, based on tools like balanced scorecards, key performance indicators or dashboards. But with measuring performance there comes a questions: what guidelines should be used when defining and using metrics in order to avoid mistakes that seriously impair the usefulness of these tools?
The misery index is an economic indicator that is calculated by adding the inflation rate to the unemployment rate. The rationale behind this calculus is that a higher rate of unemployment and a worsening of inflation mean economic and social costs for a country and imply a deterioration in economic performance.
Management now spreads at any level one may care to account for. From the company’s global destination, to managing each individual’s course, today we can keep track, monitor and have a firm clasp on the processes subsumed to organizational progress.
It is common for organizations and individuals alike to set goals, objectives they want to reach. Instinctively, people have felt that having clearly defined goals is useful for achieving the desired results, and goal setting has been used as a way of improving organizational and personal performance.
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