What is strategic performance measurement?
SPM is an approach that makes an organization’s strategic goals more transparent to line executives and provides an ongoing mechanism to monitor progress toward these goals through simple and intuitive performance measures.
How is performance measured in strategic management?
A strategic plan must specify goals, strategic objectives and actions, and the final performance measures by which management and the stockholders will gauge success. Top management’s performance can usually be measured in terms of sales volume, market share, cash flow, profit, ROI, dividends and market value.
What are 5 performance measures?
There are five specific types of measures that have been identified, defined and will be applied throughout Iowa state government: input, output, efficiency, quality and outcome.
What are the 4 performance measures?
Key result indicators (KRIs) give the board an overall summary of how the organization is performing. Result indicators (RIs) tell management how teams are combining to produce results. Performance indicators (PIs) tell management what teams are delivering.
What are the 5 P’s of strategy?
He calls them the 5 P’s of Strategy. They stand for Plan, Pattern, Position, Perspective and Ploy.
What are the types of performance measures?
There are four types of performance measures:
- Workload or output measures. These measures indicate the amount of work performed or number of services received.
- Efficiency measures.
- Effectiveness or outcome measures.
- Productivity measures.
What are the 3 key performance measures?
KPI FAQs
- Revenue growth.
- Revenue per client.
- Profit margin.
- Client retention rate.
- Customer satisfaction.
What are types of performance measures?
Performance measures can be grouped into two basic types: those that relate to results (outputs or outcomes such as competitiveness or financial performance) and those that focus on the determinants of the results (inputs such as quality, flexibility, resource utilization, and innovation).