Controlling Non-Financial Performance As A Key To Improved Productivity
Controlling non-financial performance as a key to improved productivity
Metapraxis (1998) a consulting firm states in one of their publications that “Performance measurement is a key to business success” [1]. Horngren, Stratton and Sundem (2004) state that “Effective performance measures are essential for almost any organization” [2, p385]. The fact that performance measurement is key to organizational success, is undisputed by every author, what different authors bring to light is what to measure and in what way.
Traditionally financial performance indicators were always measured to try and find the pulse of a business. Financial performance is unquestionably important, but as businesses became more modern, more competitive, managers started to see that a big part of what influences financial performance indicators are non-financial performance measures. Metapraxis (1998) highlight this saying that “Customer satisfaction (…) also has to exist before purchases are financially......
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