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Basic Factors for Developing Standard Scorecard for Performance and Efficiency Measurement for Organizations


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This research study is framed for the purpose of developing suitable parameters for measuring the efficiency and performance of an organization. Efficiency depends on how much inputs are used i.e. effective utilization of resources through quality, process and managerial efficiency etc. to achieve the required output with customers satisfaction with a method i.e. proper controlling and monitoring system. Performance is measured by how much or what percent of target is achieved. To develop the parameters of efficiency & performance, best worldwide practices, available literatures, and research publications are reviewed and verified by various industry experts to understand their views on correct measuring tools and validate these parameters. These parameters would assist the organization to identify the improvement in the puny areas in the manufacturing & service sectors in process, operations, and supporting functions. There is a calculation procedures developed which would be different and it depends and differs from the manufacturing and services industries. The number of parameters for assessment also varies according to the process and operations of the organization like automobile, engineering, SMEs, educational institutes, hospitals, power distribution organization etc. For making the scorecard effective, the organization would develop specific team for data collection, assessment, and scorecard-based departmental strategy making.

Keywords

Balanced Scorecard, Factors of Scorecard, Efficiency, Effectiveness, Performance Management Group (PMG), Generic Strategy, System Dynamics, MIS, SPC, QC, Kaizen, 6S, TQM, FTA.
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  • Basic Factors for Developing Standard Scorecard for Performance and Efficiency Measurement for Organizations

Abstract Views: 287  |  PDF Views: 0

Authors

Dilip Kumar Gayen
New Delhi, India

Abstract


This research study is framed for the purpose of developing suitable parameters for measuring the efficiency and performance of an organization. Efficiency depends on how much inputs are used i.e. effective utilization of resources through quality, process and managerial efficiency etc. to achieve the required output with customers satisfaction with a method i.e. proper controlling and monitoring system. Performance is measured by how much or what percent of target is achieved. To develop the parameters of efficiency & performance, best worldwide practices, available literatures, and research publications are reviewed and verified by various industry experts to understand their views on correct measuring tools and validate these parameters. These parameters would assist the organization to identify the improvement in the puny areas in the manufacturing & service sectors in process, operations, and supporting functions. There is a calculation procedures developed which would be different and it depends and differs from the manufacturing and services industries. The number of parameters for assessment also varies according to the process and operations of the organization like automobile, engineering, SMEs, educational institutes, hospitals, power distribution organization etc. For making the scorecard effective, the organization would develop specific team for data collection, assessment, and scorecard-based departmental strategy making.

Keywords


Balanced Scorecard, Factors of Scorecard, Efficiency, Effectiveness, Performance Management Group (PMG), Generic Strategy, System Dynamics, MIS, SPC, QC, Kaizen, 6S, TQM, FTA.

References