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