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Article: Performance measurement: does your firm suffer from a surfeit of measures? Mike Brooks considers whether a dictionary of measures could help organisations to improve their performance.
- Article from:
- Financial Management (UK)
- Article date:
- May 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Chartered Institute of Management Accountants (CIMA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Many people in many organisations, both commercial and public sector, spend much of their time measuring things. Most of these activities are conscious, structured and well co-ordinated, but a lot of them are not. If you were to slice through a typical organisation at 11am on a typical working day, you would see accountants with spreadsheets and calculators, planners with economic models, process operators monitoring production activities, HR professionals operating appraisal processes--the list is endless.
Each department will have developed its measurement processes to deal with its own particular requirements. The measurements and many of the tools will have ...