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Achieving Excellence: Performance Evaluation and Target Setting in Enterprises

Learn to set comprehensive performance targets that reflect your enterprise goals, balancing aspiration and realism. Discover the Balanced Scorecard method and communication mechanisms to track progress effectively.

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Achieving Excellence: Performance Evaluation and Target Setting in Enterprises

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Presentation Transcript

  1. PaCE 550/551 Evaluation

  2. Based actual performance of enterprises • Fall term: performance measurement system and the performance targets that you set • Spring term: achievements given the targets set for your enterprises in the fall.

  3. Performance targets should be:comprehensive -- reflect your main objectives in both aspects of your enterprise aspirational and realistic

  4. Aspirational means that they should stretch you. Hence, • the best that PaCE teams have achieved in the past might be considered a B performance; • the best that similar (i.e., same line of business, target markets, or missions) enterprises achieve might be an A standard;

  5. The Balanced Scorecard • focuses on four perspectives: • Financial, • Customer, • Internal Business Process • Learning and Growth

  6. Help organizations focus on long-term mission • Conceived with Information Age business dynamics in mind. • Uses a range of "leading and lagging" indicators to evaluate whether a business is moving toward its strategic goals.

  7. A communication mechanism • Lets front-line workers see how their efforts contribute to the enterprise's success. • Lets front-line workers explain to other participants in the enterprise the day-to-day realities that affect their progress.

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