Business performance measurement: theory and practice by Andy Neely

By Andy Neely

The sector of functionality size has developed swiftly within the previous few years with the advance of latest size frameworks and methodologies, corresponding to the balanced scorecard, the functionality prism, financial worth further, financial revenue, task dependent costing and self-assessment options. This multidisciplinary, foreign e-book attracts jointly the major subject matters to supply an updated precis of the major rules in enterprise functionality size, concept and perform. It contains viewpoints from quite a number fields together with accounting, operations administration, advertising and marketing, method and organizational habit. The e-book will attract graduate scholars, managers and researchers drawn to functionality dimension, no matter what their self-discipline.

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In Performance Measurement – Theory and Practice, ed. D. , Waggoner, Vol. I, pp. xiv–xxi. Cambridge University, Cambridge: Centre for Business Performance. Miller, D. (1994). What happens after success: The perils of excellence. Journal of Management Studies, 31(3), 325–58. C. F. (1990). The effect of market orientation on business profitability. Journal of Marketing, 54(4), 20–35. C. F. (1994). Does competitive environment moderate the market orientation-performance relationship? Journal of Marketing, 58(1), 46–55.

The most popular of these approaches in the 1990s has been the balanced scorecard approach, developed at the Harvard Business School. Although this will be discussed in some detail in this section, it should be recognized that other similar approaches exist, including the European Foundation for Quality Management scheme, which is in many ways similar to the Harvard approach. Moreover, these approaches are not new. The General Electric Company developed a set of performance measures for its departments in the 1950s which incorporated the following elements: • short-term profitability, • market share, • productivity, • product leadership, • personnel development, • employee attitudes, • public responsibility, • balance between short-range objectives and long-range goals.

An extreme example was the case of the motor car manufacturer which set transfer prices on a full cost plus basis. That is, each component plant, and the assembly plant had transfer prices set on the basis of their full costs plus a percentage addition for profit margin. Not surprisingly, all the units reported healthy profits; the only black spot was the marketing division which reported heavy losses, as it was unable to sell the vehicles at anything like the costs which had been transferred to it.

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