TQM BBA 8 WK 7 temp - Performance Measurement and Strategic...

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Performance Measurement and Strategic Information Management Instructor: Muhammad Naveed BBA-BAHRIA
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Key Idea A supply of consistent, accurate, and timely data across all functional areas of business provides real- time information for the evaluation, control, and improvement of processes, products, and services to meet both business objectives and rapidly changing customer needs. Information is derived from the analysis of data. Good information system allows managers to make decisions on the basis of facts, not opinions.
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Key Issues Organizations ignore measurement for a variety of reasons: No idea what to measure Don’t want to spend time or efforts to do it Don’t see the value of measurement Afraid to uncover problems The aim of measurement is to guide an organization toward the achievement of key business results and strategic objectives, and to anticipate and respond to rapid or unexpected internal or external changes.
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Data Representations of facts that come from some type of measurement process. Measurement The act of quantifying (determine the quantity) the performance dimensions of products, services, processes and other business activities. Measures and Indicators Refer to numerical information that results from measurement. The term “indicator” is used to define a measurement that is not a direct or exclusive measure of performance, such as, complaints -- an indicator of customer dissatisfaction. Information Data in context of a business or organization. Information is derived from the analysis of data. Good information allows managers to make decisions on the basis of facts, not opinions.
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5 Using Data as a Basis for Problem Solving Using objective data for planning and decision making. Osborne and Gaebler makes three insightful observation . If you don’t measure results, you can’t tell success from failure If you can’t see success, you can’t reward it – and if you can’t reward success, you are probably rewarding failure If you can’t recognize failure, you can’t correct it A company's efforts are wasted if collected data are not available to the right employees when needed. In TQ-focused companies, quality-related data are accessible to everyone .
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Strategic Value of Information Many managers and quality professionals view measurement activities only in term of outputs from the production system. This limited approach is a mistake -- broad base of measurements – align operations with strategic goals. Organizations need information and performance measure for three main reasons: To lead the entire firm in a particular direction, that is, to drive strategies and organizational change.
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TQM BBA 8 WK 7 temp - Performance Measurement and Strategic...

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