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Measure Of Performance Of A Company

758 words - 4 pages

Companies usually implement Business Performance Measurement systems due to a number of reasons, although largely to improve management over the company. Glavan (2011) explains that company managers and supervisors involved in formulating business strategies have an important task of determining when, how and where to establish changes within the organization (p 2). These changes may not be sensibly realized without an in-depth familiarity of the relevant information on which they are pegged on. As a result, over the recent past, numerous Business Performance Measurement (BPM) systems have been developed by business experts, among them, the business scorecard, the Economic Value Added, the ...view middle of the document...

On the same note, the internal business perspective focuses on the considered priorities for diverse business processes that create the satisfaction of both the customer and the shareholder. The last perspective is learning and growth which ideally prioritizes on creation of a climate that promotes organizational change, improvement and growth. All these four key perspectives bring into line the organization’s strategy from all perspectives. Crosson and Needles (2011) argue that the perspectives leads into performance objectives that is commonly beneficial to comparatively all stakeholders in the business (p 304). Subsequently, immediately the objectives of the organization are determined, the managers can appropriately select performance measures and set performance targets to transform the objectives into a workable action plan.
The Economic Value Added
The second type of measurement is the Economic Value Added that was developed by the Stern Steward Corporation. EVA is simply an entire measure of a firm’s financial performance. The proponents of this framework explain EVA as a financial performance measure that is directly related to the creation of shareholder’s value. Mathematically, the Economic Value Added (EVA) can be expressed as:

EVA criterion is designed to present managers with better information and motivation so as to make decisions necessary for the greatest shareholder wealth. In fact, EVA is characteristically used as a manager motivation plan. Due to the fact that EVA is a single...

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