Key Performance Measures and
the Business Culture
Business culture is the context in which the measures exist. They are
bound to each other in terms of context and environment. Understanding business
metrics as key performance measures is an important part of business strategy
and management. In this assignment, you will look at financial performance
measures.
Financial performance measures are vitally important to assessing
corporate performance. However, financial measures are primarily backward looking
in that they measure the results of past actions, and do not always give a
reliable indication of future direction.
Using the module readings, online library
resources, and the Internet, respond to the following for your own
organization:
·
Give
three examples of key performance measures that are forward looking and more
predictive.
·
What
aspect of the value chain are they measuring?
·
How
do these measures tie to specific strategies in your business unit?
·
Does
the business’ culture enable or block its business strategy and/or does it have
an effect on financial performance in the value chain? Provide a rationale in
support of your answer.
·
What
are cultural norms that govern the organization, and what types of behaviors
does the culture promote or punish?
Write your
initial response in approximately 300 words. Apply APA standards to citation of
sources.
