Essay on Key Performance Indicators - Free Essay Example

Sample details Pages: 5 Words: 1409 Downloads: 9 Date added: 2017/06/26 Category Management Essay Type Narrative essay Level High school Did you like this example? A performance indicator or also known as key performance indicator (KPI) is a kind method to measure performance used by organization or company (Irwin, 2011). It is mostly use to monitor an operation or to measure focusing in the aspects of organizational performance which are most critical for an organization current and future success (Irwin, 2011). According to MaryLynn Zahn, KPIs are used in order to assess the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance in their business units, division, departments and employees (Zahn, 2013). Don’t waste time! Our writers will create an original "Essay on Key Performance Indicators" essay for you Create order It is very helpful in providing evidence that certain results have or have not been achieved, enable achievement of intended outputs, outcomes, goals and objectives to be mad by decision makers, help in perceiving differences, improvements or developments which is related to a desired change in a particular context and also it consists of information which shows the changes such as factors or variables that provide a simple and reliable which reflect the changes (Zahn, 2013). There are a few types of performance indicators in an organization with certain characteristics and description. Key performance indicators or KPIs are non-financial measures and they are not expressed in monetary figures. For example, if you put a Ringgit Malaysia sign in measuring, you have not dug deep enough. Yesterday sales made by an organization will be a result of sales calls made previously into existing and prospective customers as well as in advertising, amount of contact with the key customers and product reliability. Result indicators are a sales indicator which has been expressed in monetary terms (Irwin, 2011). Most of the organization uses KPI for certain activities which undertaken their key customers and who are often generate most or all of their profit (Irwin, 2011). Besides, KPI will be used in measuring frequently. It is usually being monitored and reported 24/7, daily or perhaps weekly. It could not be use in monthly measurement as it will be shutting the stable door well after the horse has bolted (Irwin, 2011). It is current or future measures and as opposed to the past measures. Most of the organization measures are past indicator and they usually measure events of the last month or quarter (Irwin, 2011). These measures are not KPI which is why a satisfaction percentage such as 65% of customer satisfaction survey performed in every six months couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t be a performance indicator (Irwin, 2011). KPIs should be made clear of what action is ne eded and can be understood by staff. Usually they are acted upon by the CEO and senior management and good KPIs can make differences to the CEO or superior for constant attention such as with daily calls to the relevant staff (Irwin, 2011). Besides, they have a very significant effect upon the organization. Usually it will affect the critical success factors and more than a balanced scorecard perspective. In other words, when theCEOfocuses on the KPI and the staff follows, the organization scores goals in all directions (Irwin, 2011). KPI also has a positive effects or a flow on effect on the other measure. For example, reducing late planes would improve performance measures around improved service by ground staff as there is less firefighting to distract them from a quality and caring customer contact. There are three types of key performance indicator which are quantitative, directional and actionable. This sub categorization could be an extremely valuable tool for a company in the assessment of its performance (Zahn, 2013). In quantitative indicators, it is used to measure quantity or expressed it as in a form of numbers (Zahn, 2013). Depending on the data being used and involved, they can be expressed in a number ways. It could be in the form as whole number, decimals, ratios, fractions, percentages and monetary values. This type of indicator is easy to use and compare and it benefits us when it come to comparing data (Zahn, 2013). For example, an organization can use the data to compare a scientific indicator throughout a period of time in order to understand the business trends or the position of a company against the competitor. As an example of quantitative indicators in business world are number of invoices processed, turnaround time, number of payments posted, number of reconciliations completed, number of journal entries posted, annual sales, annual expenditures and etc (Zahn, 2013). The second type of directional indicators is used to prov ide the necessity data for a company in order to get a pulse around whether they wish to improve, remain the same or failing. It will be used to help in identifying the improvement or progress as such in comparing last monthà ¢Ã¢â€š ¬Ã¢â€ž ¢s and this monthà ¢Ã¢â€š ¬Ã¢â€ž ¢s sales (Zahn, 2013). Directional indicators are extremely helpful to identify the areas which are not performing effectively or efficiently and also to track and corrective action which is taken in a timely manner or it can be the mean difference in between a company success and failure (Zahn, 2013). Actionable indicator is used to assist in a company to identify area which they can be changed effectively by taking action. As an example that could be shown is a company would do better by the outsourcing processes (Zahn, 2013). In this, the true benefit can be realized when a company or organization analyzes the indicators in place and take appropriate action. Companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance could be a ssist by these indicators because it is a valuable tool for them in order to stay ahead of the company competitors. If this indicator is being use to their fullest, it will make a great difference in between a highly successful company or whether the company is barely only maintaining (Zahn, 2013). There is another one type of indicator which was not included by MarLynn Zahn, the qualitative indicators (Evaluation, n.d.). In qualitative indicators, it does not show the numeric measures but the depict the status of something which is in more qualitative terms. These indicators are not seem to be appealing but there are some things which are better as compared to the quantitative indicator (Evaluation, n.d.). For example, how much a poor community is empowered may not be measurable in strict quantitative terms. But they can be graded based on qualitative findings. Whether a cooperative body is properly functioning or not, can be assessed in qualitative terms and then it can be grad ed (Evaluation, n.d.). In my opinion, if a small company or organizations which wish to identify their own company performance, it will be appropriate to use quantitative indicator as it will be easier to understand and view by them. It will be more appropriate and easy to view since the data all will be shown in the form of numbers and it can be clearly seen through the graphs or tables (Zahn, 2013). For company which wants to know about their performance as in the total of sales or profit without the intention to against their competitor, quantitative indicator will be the best indicator to be used (Institute, 2011). However, for a company or organization that wants to improve in their performance or sales, it will be useful to use directional indicator. This is because in directional indicator, it can help an organization to identify the improvement or the progress of their performance such as their sales or rundown of the company from time to time (Methadology, 2014). This wi ll ease them in looking or identifying what is the reason or factors of the success. It can be the same for them to identify their problems as well if there happen to be a loss rather than profit so they could identify the problem and solve it before it leads to another crisis of an organization or company. It is not a comparison or competition in between the types of indicators but rather depends on own perspectives values and respective importance by an organization or company. Depending on their goal to get from the performance indicators and select which is the one that suits them using it (Evaluation, n.d.). Bibliography Evaluation, M. a., n.d. [Online] Available at: https://monitoringevaluation.weebly.com/quantitativequalitative-indicators.html [Accessed 20 March 2014]. Institute, T. A., 2011. Continuos Progress. [Online] Available at: https://fp.continuousprogress.org/node/33 [Accessed 20 March 2014]. Irwin, T., 2011. Mondaq Connecting knowledge and people. [Online] Available at: https://www.mondaq.com/x/140520/Operational+Performance+Management/Key+Performance+Indicators+KPIs+What+They+Are+And+What+They+Do [Accessed 12 March 2014]. Methadology, G. E., 2014. GEM. [Online] Available at: https://www.apcwomen.org/gemkit/en/gem_tool/step4a.htm [Accessed 20 March 2014]. Zahn, M., 2013. The Accounting Minute. [Online] Available at: https://clarity.sutherlandglobal.com/blog/accounting-minute/types-of-performance-indicators/ [Accessed 20 March 2014].

Financial Analysis of Hershey Corporation Essay example

INTRODUCTION The Hershey Company is North Americas largest manufacturer of quality chocolate and sugar confectionary products. They produce and sell a wide variety of confections from the familiar favorites such as Hersheys, Reeses, and Hershey Kisses to the Ice Breaker line of gums and mints. They have also emerged as the forerunner in the dark and premium chocolate category (http://www.thehersheycompany.com/). This paper will discuss the history of The Hershey Company, general facts and information pertaining to operations as well as industry statistics including trends and key competitors. Furthermore, this paper will examine the financial position of The Hershey Company, through use of ratio analyses and forecasting models in†¦show more content†¦When combined the international operations share most of the aggregation criteria and represent less than 10% of consolidated revenues, operating profits and assets. 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Bird Watching Free Essays

Birdwatching or birding means going outside to enjoy watching birds. It is a popular hobby. Someone who does this is called a birdwatcher or birder. We will write a custom essay sample on Bird Watching or any similar topic only for you Order Now These two words mean the same thing, but people who spend a lot of their time watching birds, taking their hobby seriously, are more likely to call themselves â€Å"birders†, while â€Å"birdwatchers† may just be people who like watching birds when they happen to go for a walk. Both birdwatchers and birders are usually amateurs. The scientific study of birds is called ornithology. People who study birds as a profession are called ornithologists. Birdwatching (or birding) is very popular in countries such as Britain and the United States. It can be especially awarding in spring when a lot of birds are singing and building nests to raise their young. In spring and autumn many birds can be seen as they migrate. In winter some other kinds of birds may be visiting from colder areas such as the Arctic where there is no food in the winter. A pelican flying moves steadily enough for it to be followed with a pair of binoculars It is useful to have a good pair of binoculars to help to see birds that are far away more clearly. Scopes or telescopes can also be used. These give much greater magnification than binoculars (making the birds look much bigger), but they need to put on a tripod because they cannot be held steady by hand. They are useful for looking at birds that stay in one place for some time such as ducks swimming on a lake, but no use for birds flying in the air or hopping quickly from one tree to another. Some birders like to take photographs of birds. This is difficult to do well unless one has good, expensive cameras and long lenses. Telescopes can be attached to cameras. This is called digiscoping. Twitchers a pair of binoculars are essential for birdwatching Some birdwatchers are called twitchers. Twitching means spending all one’s time trying to see as many different kinds of birds as possible (the normal word â€Å"twitch† means: making little jerks in the body, often with muscles in the face). Twitchers keep lists of all the birds they have seen, and if they hear that a rare bird has been seen somewhere, they travel long distances to try to see it so that they can add it to their list. Birdwatchers are useful Although birdwatchers are amateurs, they can be very useful, because they can tell organizations such as the British Trust for Ornithology about what they have seen. This information can be useful when discussions take place about possible damage to the environment, e. g. because of new developments (building). It can help us to protect the birds, because we understand their needs. Some birders help with bird ringing. Putting a ring on a bird’s foot helps us to identify it when it is seen again so that we can understand where birds go and what they do. Birders can also take part in bird counts. In Britain a â€Å"Big Garden Birdwatch† project takes place one weekend each year in late January. Over 400. 000 people watch the birds in their gardens for one hour and are asked to make a list of how many they see during this time. By comparing the results with other years this helps us to see which birds are surviving well, and which ones are becoming less common. Code of behaviour Birders are always reminded how important it is not to disturb the birds. This is particularly important in the nesting season. If birds are nesting on the ground in fields or reedbeds one should never go anywhere near them. Some birds get used to humans being near, but others may be very shy of humans. How to cite Bird Watching, Papers

Lower Dauphin Falcon Basketball Team Essay Research free essay sample

Lower Dauphin Falcon Basketball Team Essay, Research Paper The Champ It was halftime ; the mark was tied. The Lower Dauphin Falcon Basketball squad was playing with such personal appeals as we started to surge over the Susquehanna Indians in the 2nd half. It was one shooting after another, and shortly we were winning by 2 points. The star of the game was of class our figure 33, Evan. He shined on the tribunal like an angel in camouflage. The crowd was heartening with exhilaration as the concluding proceedingss were weaving down on the scoreboard. The game was tied at 44 with 5 seconds staying, and of class it was our? angel? who came to the deliverance once more. He caught the ball at the border of the three-point line, squared up, and allow it wing. We watched with hopeful eyes as his shooting sailed towards the basket. It was a success ; we had beaten our challengers for the 2nd clip this season. The crowd rushed the tribunal ; cryings of joy fell from the participant? s eyes, including Evan? s. After the game we all went over the Evan? s house to observe. Many of us non cognizing that the remainder of the weekend would alter our lives. We played pool, ate pizza, and watched the 11:00 intelligence to see high spots from the game. Evan sat with me and thanked me for coming to watch him. After all, I wore his New Jersey and his figure painted on my face. I left that dark at 12:30. I was unaware of the large party that was taking topographic point at another house, or I would hold stayed with Evan so he would non hold gone. Alternatively I went place and went to kip. Besides, I had a reasonably unbelievable dark as it was, and I wanted to enjoy the minutes captured. All of a sudden I sat up in bed ; it was 8:00 on a Monday forenoon. School was cancelled because a fresh bed of snow had fallen on the land. To my surprise the telephone rang. ? Kristen, did I wake you? ? These were the first words spoken by my friend? s female parent, Mel. ? Yes, ? I said courteously, non holding a hint as to why she was naming so early. With her voice shaking, as something awful had happened, she asked me if I had heard the bad intelligence. ? No, ? I uttered. ? Mel, what happened? ? Then she began to state me something that I thought I would neer hold to hear. ? Evan was in an atrocious auto accident last dark, ? she said. ? Oh my goodness, is he all right, when can I see him? ? These words flew out of my oral cavity non cognizing the remainder of the narrative waiting to be told to me. ? Kristen? he was killed. ? Tears immediately began to turn over down my pale white face. So many ideas, memories, and amusing brushs ran through my caput in a affair of seconds until my train of idea was broken. Mel offered to come over, being that she lived two houses off. I turned down her offer, and told her that I had to name my ma. I eventually got my fingers free from clinching the telephone so t ightly that I was able to name my ma. She answered, I tried to talk but my pharynx was dry and nil was able to come out. Then all of a sudden I blurted out? ? Mom, Evan Gourley was killed in a auto accident last night. ? She didn? t understand a word that I had said, so she asked me to reiterate myself. When I eventually came around to it, she told me to quiet down. Her offer was besides to come place ; I rapidly rejected her every bit good and called my fellow Brandon. While dialing his phone figure, teardrops were pouring from my eyes. There was no reply, merely the drone recording of the answering machine at the other terminal. It must hold sounded like I was shouting into the phone while I was go forthing the message, but I was certain that person would recognize there was serious intelligence expecting them and name me back shortly. Seconds later my phone rang. ? Kristen, its Brandon, what is the job? ? Relieved to hear his voice, I asked him if he would come over. He questioned my petition and asked me one time once more what was incorrect. ? Evan died in a auto accident last dark, ? I responded. ? Do non travel, I? ll be right there. ? Brandon spoke these soothing words to me. Until person arrived at my house for me to sorrow with, memories upon memories ran throughout my head. Evan was a star hoops and baseball participant, member of the homecoming tribunal, and merely an all about great cat. He was the funniest, sweetest, and most charming cat in our category ( good, possibly non but he certainly did seek ) . He merely had one defect, imbibing and drive. His ruddy Ford Probe hit an icy chuckhole at 2:00 a.m. It so collided with a bank along the side of the route and came to a landing on its roof. He was pronounced dead at the scene when person eventually found his demolished auto 45 proceedingss subsequently. Even though that is how he died, none of us judge him by his hapless determination that dark. Yes, it could hold been prevented, but it wasn? T. Traveling to his funeral was difficult, but traveling back to school on Tuesday was even harder. Besides, Evan had sat next to me in every category except for one. For the first hebdomad I would travel to state something to him, or delay for him to do a amusing comment at one of the instructors or pupils, and it merely wouldn? t happen. Finally world had set in. Although we know that Evan Cooke Gourley made one important error in his life, we had come to recognize that his clip here on Earth was cherished and that he made the best of it. He knows that he could neer be forgotten, and that he made an unbelievable impact on each of our prevarications. He is non remembered for doing that three-pointer to win the game, or striking out the last hitter for a no batter. After all, Evan was our friend, and my? angel? . He will go on to populate on in our Black Marias as person really particular until we can all fall in him in ageless peace.