Question

Why do organizations need performance measures? (Min 125 words)

Answer 1

Companies primarily need performance measures to improve their performance and productivity through cost reduction. These help to identify to be improved areas prior to becoming major problems, and give you the opportunity and the ability to respond to these issues. It should also be a continuous process in order to maintain an organization's good performance. You have to know about the grey areas where you are not performing. Once you recognize, make the plan accordingly to combat the same.