...Abstract To study the Citibank Performance evaluation case and evaluate James McGaran’s performance assuming the role of Lisa Johnson. Describe the approach taken in performance feedback session, sequence of conversation and supporting references to backup your evaluation. To Review the Citibank evaluation system as a consultant and recommend possible procedural and processes changes to improve its performance evaluation system. Citibank performance evaluation system Until 1994 Citibank performance evaluation system was based on the quantitative measure (financial measures) not both quantitative and qualitative measures (MBA6220, 2011) due to the type of services offered by the bank. With the change in Citibank’s strategy in California it was essential to measure both the qualitative and quantitative measures and a new performance evaluation system was tested in 1995 to be introduced from the first quarter of 1996. The performance scorecard of the system was built around six different types of measures: financial, strategy implementation, customer satisfaction, control, people and standards (Davila, A & Simons, R, 1997). Financial measures were computed from the regular accounting system, strategy implementation measures could be tracked based on the target customer segment relevant to branch strategy and control measures were measured based on internal auditor’s evaluation on the branch’s internal control processes. People and standards – the non-quantifiable ratings were...
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...Performance Indicators 3 Cost Indicators 3 Quality Indicators 3 Importance of Developing Logistic Performance Indicators 4 References 8 Types of Logistic Performance Indicators Organisation for Economic Co-Operation and Development (2002, pp 34) has distributed the logistics performance indicators into two types. First type is cost indicators and second type is quality indicators. Cost Indicators These include the following costs * Costs incurred in transportation * Cost incurred on inventory * Cost incurred on sorting and packing * Costs incurred on packaging Quality Indicators These include the following * Goods & customer services knowledge * Availability of any goods * Order to delivery lead time and its accuracy * Response time for special orders * Ability in organising information * Ability to organise time * Ability to organise accuracy * Response time in the event of a mistake. Importance of Developing Logistic Performance Indicators The basic purpose of developing logistic performance indicators is to enable a company to evaluate the efficiency and sustainability of its logistics systems. In addition to this, a company can enable itself to monitor how successful it has been in achieving its logistics policies. Furthermore, such indicators help a company to explore any possible improvements. There are different players in a logistic chain and each of them has to play a different role. Every player...
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...as required and meeting organizational goals. If workers are left unattended, there is the tendency for them to use working hours for personal and other things which are unrelated to the work for which they have been employed. It is therefore imperative for employers to measure the performance of employees to know their actual contribution towards the achievement of organizational goals. According to Aurel Brudan, performance indicators are “the selected measures that provide visibility into the performance of a business and enable decision makers to take action in achieving the desired outcomes.” Bernard Marr also defines performance indicators as “the most important performance information that enables organizations or their stakeholders to understand whether the organization is on track or not.” Performance indicators or key performance indicators are used in assessing the performance of workers. They help an organization define and measure progress toward organizational goals. Performance indicators are financial and non-financial indicators that org’s use in order to estimate and fortify how successful they are, aiming previously established long lasting goals. They are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization. According to the Ghana Living Standard Survey (GLSS 5 – 2006/2007), Ghana has life expectancy of 57.9 years compared to the world average of 64.3 in 2006. By 2013, the life expectancy...
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...Financial Ratios Analysis and Comparison Paper Dianne Davis MHA 612 Professor Johnson June 7, 2014 Abstract It is important for healthcare organizations to understand their present performance and weak areas in order to generate more effective operational strategies. Financial ratio analysis is an effective tool to determine hospital’s performance on several indicators such as ability to pay debt, capability to generate revenue, and sales performance etc. The objective of this paper is to describe role of different financial ratios in understanding organizational performance and in developing new strategy. The paper also presents comparative ratio analysis of local healthcare organization and industry norms. Financial Ratios Analysis and Comparison Paper Introduction Financial planning and effective management play a major role in success of healthcare business. Financial ratio analysis refers to an effective financial management tool that helps in understanding financial performance of the hospital over a period of time. Financial ratio informs about the financial trends and information on key performance indicators that helped in strategy making. Financial ratios can also utilize in comparing business performance of two or more hospitals, and also to assess effectiveness of management. Financial ratios utilized in measuring liquidity of the hospitals, profit evaluation, debt structure, management of cash flow, risk determination...
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...of Contents Introduction 2 About Ganache 2 List of Products 2 Quality Control 2 Performance Measurement 3 Key Performance Indicator (KPI) 3 How Can Ganache Benefit From KPI Technique 3 1) Financial KPIs 4 2) Manufacturing KPIs 5 3) Customer Satisfaction 6 Performance Dashboards 6 Conclusion 7 Key Performance Indicators for Supporting Decision Making Process in Make-to-Order Manufacturing 8 Useful Key Performance Indicators for Maintenance 9 Investigation of how to implement successful KPIs for organizations 10 ROLE AND IMPORTANCE OF KEY PERFORMANCE INDICATORS MEASUREMENT 11 Seven Common KPIs for Production Monitoring Using Visual Management to Drive Productivity 12 Introduction At the time being we are at the final phases of building a new plant for our family business which is called "Ganache", this will be a major change for Ganache and its operation where it is shifting from having a small lab to a huge plant. The purpose of this planet is to have a solid base for local and regional expansions. In order for us as a management team to stay abreast with this new business model; we should increase our standards and implement some useful engineering and business techniques to monitor and evaluate our work effectively. Since our business is considered as a food business, I have selected Key Performance Indicators for Quality Control as a topic for this assignment because I believe that KPI technique is one of the most useful and effective techniques...
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...ECONOMIC INDICATORS OF THE PHILIPPINES THESIS STATEMENT This research paper is focused on the idea that concepts in financial mathematics are not only applicable for businesses but can also go hand-in-hand with measuring the economic condition of the country. INTRODUCTION Economic indicators are usually packed with statistics prepared by government agencies, non-profit organization and at time even private companies. Moreover, economic indicators play a vital role in the market since they stipulate measures to be used to evaluate the economy by observing several business cycles and how the consumers are spending in the market. For analysts, knowing these economic indicators help them analyze the status of the economy. It indicates how the economy is currently doing at present and how well it will turn out in the future. Some of the economic indicator covers labor, employment and income, balance of payments, money and banking, education, financial investment, and foreign trade. These indicators are either published quarterly or annually even daily. In the Philippines, the national income accounts, agriculture, education, energy, electricity and gas are some of the economic indicators that forecasters look into. For the agricultural sector, It includes the comprehensive budget for agriculture, quantity and value of production of crops and the average prices of some agricultural products. On the other hand basic education statistics such as budget allocation...
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...on the corner, everyone has a story on how and why they ended up in that position. The United States is seen as the place where everyone has the opportunity of the “American Dream”. That includes the opportunity for one's children to grow up and attain to their fullest potential in which they are capable of, and seen for what they are and not what they are born with. It is the opportunity to make individual choices without the restrictions of class, religion, race, or ethnic group. In this research paper, I will explore the different aspects of income mobility, by looking at some intragenerational and intergenerational mobility issues. Then I will also breakdown and show some of the different economic mobility indicators and how they play an important role on how income...
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...proposed model can assist the lending institutions in assessing organizational performance, making it highly applicable for managers. Reviewing the existing literature, the paper also provides an implementation guide for BSC in the Philippines perspective. Eventually, the performance indicators for measurement purposes of the introduced case study are proposed. Keywords: Lending/ Micro financing Institutions, MFIs, Financial Services, Balanced Scorecard, BSC, Organizational Performance Assessment, performance reporting, Philippines. 1. Introduction In many developing countries, microfinance plays a vital role in providing the poor (i.e. micro-entrepreneurs, small farmers, fishermen) with access to credit and helping them improve their lives by encouraging entrepreneurial activity (Arch, 2005; Bhatt & Tang, 2011; Khandker, 1996; Llanto, 2004). It has also proven to be “a potent tool for poverty reduction by helping the poor increase their income, smooth consumption, build assets, and reduce their vulnerabilities in times of contingencies and economic shocks” (Micu, 2010, p.4). As an industry, microfinance has grown tremendously over the past decades, with players offering financial services to those who were “previously marginalized” (Arch, 2005, p.227). According to (Micu, 2010 p.4), “it now reaches...
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... MANAGEMENT METHODS AND TECHNIQUES USED TO ENSURE THE INTERNAL AUDIT PERFORMANCE Marian SFETCU Phd. Student, Faculty of Economics Sciences and Business Administration of „Babeș - Bolyai” University of Cluj Napoca.E-mail: marian_sfetcu@yahoo.com. Tel: 0720 760 220 Abstract: This approach shows a research on the usage of managemental methods on the internal audit activity through qualitative and quantitative indicators of performance assurance. Balanced Scorecard, the management method and tool, referred to the Dashboard, contributes to the internal audit performance through resource planning, setting objectives and scope of the audit, communication and approval, following the recommendations, deferring to the code of ethics and how to achieve the objectives. The listed indicators, are components of the proposed management methods and tools, and they define efficency, effectiveness, economy and quality, all elements of the internal audit performance. Keywords: methods and techniques, audit, corporate governance, internal control system, performance indicators, Balanced Scorecard, Dashboard. JEL: M 42 1. INTRODUCTION The importance of using the management methods and techniques concerning the internal audit, is given by providing a new approach to this problem, which highlights the need to ensure the performance by applying new methods and techniques, based on scientific management. This approach was born from the need to adapt the internal audit to the new demands...
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...The Role of Accounting Information in Assessing Corporate Performance in Nigeria. May,2012. Table of content. Abstract. Section 1: Introduction 1.1 Background to study 1.2 Problem Analysis 1.3 Aims and Objectives of the study 1.4 Significance of the study. 1.5 Research Questions 1.6 Hypothesis 1.7 Scope and limitation of the study. Section 2: Literature Review 2.1 General Review of Relevant Literature. 2.2 Theoretical framework 2.3 Conceptual Scheme/ Model Section 3: Methodology 3.1 Data and Statistical Tools for Analysis. Section 4: Presentation of Data Analysis Section 5: Discussion of Findings Section 6: Summary and Conclusions References. ABSTRACT. This study is an attempt to examine the role of accounting information on corporate performance. We critically examine the relevant literature that investigates the role of financial accounting information as the direct and indirect use of externally reported financial accounting data in performance assessment. Specifically, we focus on the role of accounting data in prevalent control mechanisms (primarily in executive compensation contracts) and the underlying causes that led to the shift of contracts towards option awards. Accounting information are among the most effective tools to reduce the incidences of corruption, from its supply side, because they promote values such as accountability, transparency, fairness and responsibility...
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...Introduction | This is the assignment for the Understanding Financial Management unit. The aim of this unit is to develop understanding of finance within the context of an organisation, as required by a practising or potential middle manager.The task requires you to demonstrate your understanding of finance and the value of recording financial information within the context of your organisation. You are then asked to explain the process of budget setting in the organisation and how budgetary techniques are used to contribute to controlling cost in your own area of operation.If you are not currently working within an organisation, then you may complete this task in relation to an organisation with which you are familiar. This could include experience working in a voluntary capacity.The tasks you need to undertake are:- * read all the questions * complete the learning activities associated with this course * discuss the assignment with your coach at your tutorial * complete any other activities that you need to undertake for your assignment * answer the questions in the spaces provided Here are some tips on completing the assignment, based on submissions from previous students: * make sure you read and answer all the questions! Even the most accomplished writers have fallen down by providing answers that are exceptionally well written – but well off the mark. This is usually because they have not gathered a full understanding of the questions before embarking on...
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...paper analyses the management of microfinance institutions (MFIs) and its relationship with donors’ subsidies. The results show that the level of subsidies granted per year is related to the management quality but not the subsidies divided by the gross loan portfolio or the total equity. Well-managed MFIs are larger and regulated organisations but not significantly older. The organisational structure or the experience of the MFI however does not play a role in determining its financial effectiveness, except for cooperatives. Copyright # 2009 John Wiley & Sons, Ltd. Keywords: microfinance; subsidies; management; governance; nonprofit JEL Classification: L31; M54; O16; Q14 1 INTRODUCTION Formal financial institutions have neglected a large part of developing country populations. Considered as high-risk clients, the poor have been denied access to financial services. Microfinance has been praised during the last twenty years as a new development policy tool serving people who have been excluded from the formal banking system. The financial performances of microfinance institutions (MFIs) have been largely highlighted by the international community (Armendariz de Aghion, 1999; Murduch, ´ 1999a,b; Tucker, 2001; Stephens, 2005; Gutierrez-Nieto and Serrano-Cinca, 2007; Hudon and Lietaer, 2007; Hermes and Lensink, 2007; Vanroose, 2008). However, little research has focused on the implications of management policies (McGuire,...
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...only ecology 1.3.8 Technology must meet the needs 2. PROJECT DESIGN 2. Situation analysis - the cornerstone of project planning • • • • 2.1.1 Background studies and the analysis of stakeholders 2.1.2 Problem analysis - key to the project’s framework 2.1.3 Objectives reflect an ideal future 2.1.4 Strategic choices begin by fixing the project purpose 2.2. Planning with logic • • • • • • • • 2.2.1 Logical framework is a practical tool 2.2.2 Intervention logic states the strategy 2.2.3 Assumptions must hold 2.2.4 Indicators make the plan concrete 2.2.5 Approach describes how 2.2.6 Organisation determines roles and responsibilities 2.2.7 Budget details financial framework 2.2.8 Various roles of the project document 3. MONITORING • 3.1. How stakeholders monitor • • • • • • 3.2. Integrated approach facilitates monitoring 3.3. What is monitored and how 3.3.1 Progress reports 3.3.2 Annual Monitoring Reports 3.3.3 Other performance monitoring 3.3.4 Financial reports 4. EVALUATION 4.1. What...
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...Statement No. 97, Accounting and Reporting by Insurance Enterprises for Certain Long-Duration Contracts and for Realized Gains and Losses from the Sale of Investments FASB Statement No. 113, Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts FASB Statement No. 115, Accounting for Certain Investments in Debt and Equity Securities FASB Statement No. 125, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities FASB Statement No. 136, Transfers of Assets to a Not-for-Profit Organization or Charitable Trust That Raises or Holds Contributions for Others FASB Concepts Statement No. 2, Qualitative Characteristics of Accounting Information FASB Concepts Statement No. 6, Elements of Financial Statements AICPA Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts SEC Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements SEC Staff Accounting Bulletin No. 101B, Second Amendment: Revenue Recognition in Financial Statements SEC Regulation S-X, Rule 5-03, Income Statements 1. Diversity exists regarding whether a company should report revenue based on (a) the gross amount billed to a customer because it has earned revenue from the sale of the goods or services or (b) the net amount retained (that is, the amount billed to a customer less the amount paid to a supplier) because it has earned a commission or fee. The issue often arises with...
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...Universitatis Apulensis Series Oeconomica, 11(2), 2009 639 THE PERFORMANCE MANAGEMENT IN PUBLIC INSTITUTIONS OF HIGHER EDUCATION AND THE ECONOMIC CRISIS Rodica Gherghina 1 Florin Văduva 2 Mirela Anca Postole 3 ABSTRACT: The need to reduce public spending in the developin g process and funding of public services has led to the introduction of performance indicators in the public institutions. Moreover, the need to optimize the educational activity, the implementation of an efficient management, insuring the quality and the compatibility of the e ducational systems has led to numerous investigations in this area by adopting, as a theor etical reference framework some organizational models to explain the functionality of the educatio nal system and to define a performance appraisal system. Each model generated by default a certain p hilosophy regarding the evaluation methods of the institutional performance, design and use of th e performance indicators on education institutions . Key words: economic crisis, performance, indicators , education JEL codes: I21, H52 Introduction Changes in higher education in Romania, just as thr oughout Europe and elsewhere, were as many and radical as they were continuous. Since the early 1990s, the first private universities were established in Romania and the number of public uni versities, of the faculties or of the new curriculum, respectively...
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