...Controlling on the other hand, is used by management to ensure that a specific event is accomplished as planned. According to Roberto Mockler, controlling is “a systematic effort by business management to compare performance to predetermined standards, plans, or objectives to determine whether performance is in line with these standards…” (Certo & Certo, 2009). Therefore controlling goes hand-in-hand with the planning aspect of organizational management. In order for organizations to properly plan and control events, it is important to establish performance measures in which to judge success or failure. This paper will discuss more in-depth various types of performance measures and evaluate each for strengths and weaknesses. Performance Measures Probably the most important human resource management (HRM) performance measure is the performance appraisal. The performance appraisal, also known as performance evaluation, is a process in which management reviews an employee’s past production to evaluate the contribution made to the overall goal accomplishment. It seems that performance appraisals are a party of every organization in some facet. Many decisions in an organization are dependent on performance appraisals (Cintrón & Flaniken, 1999). Performance evaluations provide management with data to support increases in...
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...Traditional performance measures slowly become insufficient tool in describing sophisticated and growing complexity among contemporary business organizations. They mainly concentrate on financial performance aspects such as: sales results, overhead absorption rate, return on investment, earnings per share and many other profitability ratios. Therefore management accounting evolved beyond these framework, as a solely profit measurement method, by including non-financial factors in the performance analyse. It is immensely difficult to justify the best approach, which business should operate, as management accounting techniques escalate in large extent and the choice depends on organizational profile. By evaluation of some performance measurements in this essay, it will be easier to understand their existence and apply acquired knowledge in the future, as a management accountant professional. Considering divisional organizations it is important to distinguished between the managerial performance, where only directly controlled items includes, namely direct costs (which level depends on manager’s efficiency and acquired leadership skills) and divisional performance measurement because outcome of manager performance might not reflect the market recession that division is struggling with (Drury, 2008). Therefore in order to presents reliable view of division performance the assumption should be appointed on controllable contribution. Drury arguments that: 2it measure the ability...
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...Chelsea Millard Performance Measures An intensive care unit (ICU), also referred to as a critical care unit, is a healthcare operating unit that treats persons who have been inflicted with life-threatening injuries and illnesses. Patients in an intensive care unit are observed closely by specially trained health care providers. Problems that are treated range from accidents to severe breathing problems. Patients are normally exposed to monitors, intravenous (IV) tubs, feeding tubes, catheters, and breathing machines. These particular items are used to extend a patient’s life, but infection risk can become common also. In an intensive care unit, many patients recover and are moved to a regular hospital room to receive care. Death is a common outcome for patients in an intensive care unit. If a patient’s family and health care providers have to make end-of-life decisions, advance directives will help the individuals come to a final decision (“Critical Care“). In the article “The Competitiveness and Balanced Scorecard of Health Care Companies,” the balanced scorecard has become an idea that has become influential to the business aspect. A balanced scorecard measures employee knowledge, relationship with customers, cultures of innovation, and change generated success. Many businesses has improved their performance by improving processes and becoming more competitive in the market (Mavlutova, Babauska, 2013). In the article “Pabon Lasso and Data Envelopment Analysis: A Complementary...
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...Rashmi Deshpande 008158722 Rashmi Deshpande 008158722 Financial Performance measures in a traditional business system Measuring the financial ability is a very important approach for any business entity in order to enhance its overall performance, profits and to maintain a financial stability. Financial performance measures are done in order to depict the company’s overall performance. This is done by performing some simple mathematical calculations. The most common way of measuring one’s financial measures is by calculating the financial ratios. These financial ratios can be used to compare the financial abilities of different companies. Thus these ratios are kind of scores based on which the companies are rated. These ratios can also help the company management in creating business plans and creating presentations for their customers and investors. Some of the common financial ratios used as financial measures are: The liquidity Ratios: These ratios are used to find out “how much ready cash or near cash a company has?” Some of the liquidity ratios are 1) Current ratio 2) Quick ratio The Profitability Ratios: These ratios measure the return on investment or the profitability. The most common profitability ratios are 1) Profit ratio 2) Earning power 3) Return on investment of Assets 4) Return on common equity. Asset Ratios: These ratios are used to measure the asset management ability. Some of the common asset ratios are 1) Inventory turnover 2) Days of receivable...
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...Performance measures and objectives: 5 levels of aggregation Louis Hotels Public Company Ltd Louis Hotels Public Company Ltd (LH) mission statement clearly states their strategic objectives as a whole: The vision of Louis plc is to continue to offer the highest possible quality of services to its clients and partners, to maintain its leading position in the Eastern Mediterranean and to become one of the major forces in quality international markets of special interest. The Company is aiming to strengthen and enhance its strategic agreements with international tour operators by offering [hotel] services. (Louis, n.d) The LH vision as quoted above makes up their overall strategic objectives. The Slack and Lewis (p. 172, 2008) performance target aggregation pyramid can be used with the LH example of how performance is measured starting from the basic generic performance measures – here: quality, cost, speed and flexibility. In fact, the LH performance targets are inter-dependent; cost, speed and flexibility all contribute to creating the quality service and image to the customer, thereby creating high customer satisfaction and enabling for agility in a very much unstable and sensitive market. High customer satisfaction and agility enable LH to achieve its market strategic objectives: a “leading position in the Eastern Mediterranean” (Louis, n.d) and ultimately reach its general strategic objectives. To be able to maintain the ‘four star’ status of their hotels, LH need to provide...
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...ACCOUNTING PERFORMANCE MEASURES Discuss the uses of accounting info in performance measurements. What are the limitations of accounting information? Accounting provides companies with various pieces of information regarding business operations. Management often reviews this information to determine how well their business is operating. A common use of such information is measuring the performance of various business operations. Financial ratios use the accounting information reported on the financial statements and break it down into leading indicators of performance. These indicators can be compared to other companies in the business environment or an industry standard. This helps managers understand how well their companies operate compared to other established businesses. Accounting information can also be used to evaluate the performance of the managers themselves in particular. This essay will discuss the uses of accounting information in performance measurement of managers and the limitations in using said information. How to overcome the limitations addressed will also be discussed. Most organisations base their managers evaluations and rewards on accounting based financial measures which come in two forms, residual measures and ratio measures, which are derived from rules defined by accounting standard setters. Residual measures include such accounting profit measures such as net income, operating profit, EBTDA or residual income. Ratio measures consist of such...
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...Cortez’s Brilliancy Seen In “Measure for Measure” Justice, morality, love, power, and forgiveness, “Measure for Measure” tackles them all. William Shakespeare brings us to explore a vicious, yet tender and intense world through his play. Dulaang UP, the campus-based theater company, decides to try its hand at one of the Bard of Avon’s problem plays in celebration of their 39th season and Shakespeare's 450th birth anniversary. Does its production of "Measure for Measure," under the direction of Alexander Cortez, measure up? The ones that get most of the attention are Jeremy Domingo as Vincentio, the Duke, who also appears disguised as Friar Lodowick to observe the goings-on in his absence. As a Duke, he turned his kingdom into another peep show, building his own pleasure as he gazes on behind his shabby friar’s disguise. As it gives more sinister, Duke, Domingo solves the notorious problem in the second half of the play, during the unclear part on why he lets things drift for so long before using his power. He acts as a dues ex machina to turn the play from tragedy to comedy. The excellent Tarek El Tayech portrays Angelo, the piously self-assured and moralistic deputy, who rules in the Duke's absence. He is the creepiest Angelo you are likely to encounter. In fact, he is a predator who feels free to unbuckle his instincts after the Duke transfers power to this unfit aide and did take moral temperature of his city. You couldn’t hope to find better acting and direction in the...
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...Business Sustainability Alternate measure for Economic Performance Jayant Kumar Preface An indicator is something that helps one to understand inclusive position, the path and how far one is from the point they want to be. A good indicator gives the alert about the problem before it gets too bad and helps to recognize things to do in-order to fix it. Indicators of sustainable community point to areas where the links between the economy, environment and society are weak. It allows one to identify the problematic area and helps the ways to fix restore it. GDP and profit currently dominate society’s discussions of economic performance. They shape the way people think about the economy and business, affecting their behavior and the actual outcomes of economic activity. So what is economic success? Going beyond GDP and profit will explore what we mean by economic success, the role that GDP and profit play in this, and the potential for broader measures of economic success to help us balance our economic priorities, our social goals, and the constraints imposed on us by the natural environment we live in. 1 Current measure of Performance Right measurement is a powerful instrument for social progress; wrong or imprecise measurement a source of hazard and even havoc. Two main measure of economic success are currently are GDP at the national level and profit at the Organizational level. GDP is the value added measure that is broader than Profit. GDP and profit are contested...
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...Williams Published – Cyan Books Year – 2007 Place – London No author perhaps has had the kind of influence Shakespeare has had on our lives in different forms. This book is another example of Shakespeare’s influence, this time on the business world of today. Twenty six contemporary writers have paired with a Shakespeare play and one of the lead actors of the First Folio list to give us this delightful new insight of the play and the role. The book is a delightful collection of essays on Shakespeare’s role in contemporary business world. That we have very little biographical sketch to go by demands that “imagination has had to work harder than memory”. And given the “breadth, vivacity, wit and life” of Shakespeares’ plays and their performances, one cannot help but imagine that those actors would be chuckling in sotto voce behind their masks, at our attempt “to capture some sense of their lives and their contribution to the world” It is fitting that a book on Shakespeare’s role in modern business should be introduced by Dominic Dromgoole, the artistic Director of Globe Theatre. According to him, the theatre actor is the most impermanent of all artistes, considering that once a play is over, there is no remanence of his work except the printed “dramatis personae at the beginning of the published play”. He bows in obeisance to that “mysterious, celebrated and intriguing bunch of bandits who worked at Globe in its first manifestation.” There are 26 names in this list, topped...
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...FINANCIAL PERFORMANCE MEASURES AND THEIR EFFECTS By Evanti Firstadea (105020307121003) Rosyida Mardyana (105020307121011) University of Brawijaya Economics and Business Faculty Accounting Major FINANCIAL PERFORMANCE MEASURES AND THEIR EFFECTS INTRODUCTION The primary objective of for-profit organizations is to maximize shareholder (or owner) value, or firm value for short. Thus, the results-control ideal would be to reward each individual employee for doing what s/he does to increase firm value. However, because direct measurements of the individuals’ contributions to value creation are rarely possible, firms have to look for measurement and control alternatives. A commonly cited management axiom is: what you measure is what you get. This axiom works in practice because performance measures are linked to any of a number of incentives that employees value. Employees respond to these incentives. The measures, then, play valuable motivational, or decision influencing, roles. But what performance measure (or measures) should be used? At managerial levels of organizations, both at the corporate and entity levels, job responsibilities are both broad and varied. In common jargon, managers are said to be multitasking. Reflecting that task variety, the list of measures used in practice to motivate and evaluate managers’ performances is long. However, these measures can be classified into three broad categories. Two of these categories include summary, single-number,...
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...Shakespeare play measure for measure and much ado about nothing . There were two women or falsely accused of both plays and starting off with the play what ado about nothing. One of the main characters hero who was a woman who was supposed to be wedded by Claudio was falsely accused of infidelity and Claudio let known these accusations at the wedding ceremony ( pg.137 act 4. Scene1) by denying her hand in marriage and accusing her of what he thought she did. The character hero was extremely embarrassed and mortified as well as her family. This also affected her virtue more so her standing and reputation in her community for the fact that he's saying that she is not pure that she's a liar and cheat within the story is completely crashes the character hero emotionally and psychologically. She falls into an extreme depression, which is very similar in comparison to the play measure for measure where the story of the character mariana introduced and told by the Duke to Isabella (pg.249 act3.scene1) where Mariana was to marry Angelo but was falsely accused of not being virtuous. So Angelo left her this brought her into a extreme depression and ruined her reputation a lot like in the play much ado about nothing character hero's situation. Both plays have different of showing these different natures of the accusations from both plays in much ado about nothing. The accusation was displayed in a very grand way to shame hero for what she was accuse that she had done in measure for measure Mariana...
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...MEASURE FOR MEASURE More centuries ago than I care to say, the people of Vienna were governed too mildly. The reason was that the reigning Duke Vicentio was excessively good-natured, and disliked to see offenders made unhappy. The consequence was that the number of ill-behaved persons in Vienna was enough to make the Duke shake his head in sorrow when his chief secretary showed him it at the end of a list. He decided, therefore, that wrongdoers must be punished. But popularity was dear to him. He knew that, if he were suddenly strict after being lax, he would cause people to call him a tyrant. For this reason he told his Privy Council that he must go to Poland on important business of state. "I have chosen Angelo to rule in my absence," said he. Now this Angelo, although he appeared to be noble, was really a mean man. He had promised to marry a girl called Mariana, and now would have nothing to say to her, because her dowry had been lost. So poor Mariana lived forlornly, waiting every day for the footstep of her stingy lover, and loving him still. Having appointed Angelo his deputy, the Duke went to a friar called Thomas and asked him for a friar's dress and instruction in the art of giving religious counsel, for he did not intend to go to Poland, but to stay at home and see how Angelo governed. Angelo had not been a day in office when he condemned to death a young man named Claudio for an act of rash selfishness which nowadays would only be punished by severe reproof. Claudio...
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...‘Measure for Measure’ in Filipino–because ‘Shakespeare is truly global’ A roundtable meeting is “a venue for intellectual discussion among the academe, students, playwrights, directors, media and anyone interested in theater,” said Jeffrey Hernandez, council master of the University of the Philippines Theater Council. He added: “We have a responsibility to the audience to explain our craft, to touch lives and bring them back to the reality of life. We do art for the people we love, and in a larger sense for the country.” That statement opened the press launch of Dulaang UP’s 39th season, held recently at the Wilfrido Ma. Guerrero Theater in UP Diliman, Quezon City. The theme running through the five plays that will be presented, in Filipino as well as English, until February next year is “Regaining Dignity.” The plays in the season are Shakespeare’s “Measure for Measure/Hakbang sa Hakbang” (with Filipino translation by Ron Capinding), Aug. 20-Sept. 7, directed by DUP artistic director Alexander Cortez; Floy Quintos’ “Ang Huling Lagda ni Apolinario Mabini,” directed by Dexter M. Santos, Oct. 1-19; William Wycherley’s “The Country Wife/Ang Misis kong Promdi,” with Filipino translation by Nicholas B. Pichay, Nov. 19-Dec. 7; and Rody Vera’s “Bilanggo ng Pag-ibig,” inspired by the works of Jean Genet, the novelist-playwright who best exemplified the French spirit of succès de scandale “The Country Wife” will be directed by Tony Mabesa, “Bilanggo ng Pag-ibig” by José Estrella...
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...Morals, right, wrong and religion: These words make up a person perspective on everything, It only takes one situation to test one’s principles. In the play Measure for Measure, the literary genius William Shakespeare test one’s values by using clever events. The play starts off with the Duke of Vienna, Austria leaving his post in order to test his potential successor, Angelo. But that is when all hell breaks loose. The Duke’s successor misuses his power by sentencing a young man named Claudio to death; banishing his girlfriend Juliette to a monastery for their fornication. The Duke’s actions to save these two young lovers were immoral and did not relate to his godly oath. Starting in Act three Isabella, the sister nun of Claudio, goes to her brother to speak of her predicament with Angelo asking for sexual bribery to save her brother’s life. The Duke, dressed as a friar , overhears the surreal event, causing him to give Isabella some of his guidance, “ Go you to Angelo; answer his requiring with a...
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...The passage opens by Isabella using a speech representations, she refers to Angelo as ‘my lord’ this mode of address reinforces the difference in class and also the respect that Isabella must give to him, not only because he is in charge but also he could potentially save Claudio’s life. A common thought that has been displayed in many plays such as Measure for Measure is that men are weak and women are the strong willed ones who cannot be lustful but for a man it is more acceptable and for a dramatic twist Angelos turns round to Isabella and states a declarative ‘we are all frail’, he reinforces his point by again stating ‘women are frail too’. To Angelo’s short remarks Isabella replies with a paragraph agreeing with his thoughts, this can be seen as a dramatic technique as Isabella is strong willed and stubborn yet she agrees as states that even she is weak - which could potentially encourage him - but her agreeing can also help bring to light just how much power he has. ‘call us ten times frail; for we are soft as our complexions are’. He has so much power that Isabella must agree with what he says if its harmless. Shakespeare uses the dramatic technique of presenting Isabella as either naive or a really dedicated soon to be nun, but not letting Isabella know that Angelo is talking actually talking about wanting to sleep with her. Shakespeare highlights that Isabella hasn’t been aware of Angelo's intentions as previously they spoke and Isabella offered ‘gifts’ but in her...
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