Q9E-Summary of Key Points and Terminology - Chapter 12

Q9E-Summary of Key Points and Terminology - Chapter 12 -...

Info icon This preview shows pages 1–2. Sign up to view the full content.

Managing for Quality and Performance Excellence, 9 th Edition Summary of Key Points and Terminology Chapter 12 – Measurement and Knowledge Management for Performance Excellence Organizations need performance measures to drive strategies and organizational change, to manage resources, and to operate processes effectively and continuously improve. Data and information support control, diagnosis, and planning. Benefits include better knowledge of product and service quality, worker feedback, a basis for reward and recognition, means of assessing progress, and reduced costs through better planning. The balanced scorecard consists of four perspectives: financial, internal, customer, and innovation and learning perspectives. A good balanced scorecard contains both leading and lagging measures and links them through logical cause-and-effect relationships. The Baldrige criteria provides a slightly different view of a balanced scorecard, and focuses on five categories of performance results: 1. Product and process outcomes 2. Customer-focused outcomes 3. Workforce-focused outcomes 4. Leadership and governance outcomes 5. Financial and market outcomes Although many specific measures and indicators can be defined in each category, the ones an organization chooses should be tied to those factors that make it competitive in its industry. The purposes of a performance measurement system include providing a perspective of the past, present, and future; identifying trends and progress; facilitating understanding of cause-and-effect relationships; providing direction and support for continuous improvement; and allowing performance comparison to benchmarks.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '14
  • GaryE.Rafe
  • Management, PERFORMANCE EXCELLENCE

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern