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    Preferred Method of Performance Measurement: Leading Indicators

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    1. Measuring and evaluating performance is important to managers. They need to explore how individual and performance measures and other measures can be combined to create a better tool for measuring past performance and driving the future achievement of strategic goals.

    The different methods of performance measures include:
    Lagging indicators
    Leading indicators
    Non-financial measures
    Best practices.

    If you had a choice, pick one of these 5 measures, explain why you would use it over the others, and how you would implement it.

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    Solution Preview

    If I had to pick one, I would pick leading indicators. Why? This is the measure that can give me a head-up on what is coming, permitting me to adjust strategy, initiatives, and resources so that I do not get stuck with the wrong merchandise, the wrong staff or the wrong capital, any of which could kill the plan. If the plan sinks, the other ...

    Solution Summary

    Your tutorial is 244 words and selects leading indicators. Reasons are given and two examples illustrate the critical nature of this selection.