Gildenbeschreibung » Another theory to consider is

Metrics Theories in the Corporate World Home Business Articles | December 14 Cheap Jalyn Holmes Jersey , 2008
Metrics theories do play a significant role in the overall performance, success, and growth of any business. Here are some to keep companies busy with.


It actually helps to have a few metrics theories in mind when you are in the process of defining the very metrics you will be using for your business. In general, these theories concentrate on quantifiable measurements, the ones that reflect the CSFs or critical success factors of any business Cheap Brian O'Neill Jersey , organization, enterprise, or entity. These theories help you in defining just what is important to any existing organization so that success can be accomplished.

Let us put this into context. Let us say you operate a coffee shop and you have plans of opening 3 new branches within a year or two of operations. There should then be certain parameters to implement so that this goal can be realized. These parameters would depend on actualization of this goal. Some parameters you can use could be to develop 10 loyal clients in each of the areas you want to penetrate, to add 15 new products on your existing menu, and to enhance customer service to ensure customer satisfaction. You should also have goals in mind and these better be specific goals as well. With specific goals Cheap Daniel Carlson Jersey , it would then be easier for you to determine your progress, measure your company?s growth, as well as calculate all the areas that are in need of improvement so that success would be better achieved.

There are actually a number of theories that you can use in developing these factors. You just have to make sure to choose the one that works best for your business. No matter the theory, the important thing to do is to stick to goals and objectives that your company is found on. More importantly, make sure that you can adjust your profile accordingly when your enterprise starts growing and changing. This is a bit difficult to do because there is always resistance to change ? this is inevitable. Here are a few tips that you should keep in mind to make this easier.

Firstly Cheap Mike Hughes Jersey , bear your goals in mind always. A lot of companies hold profit as the most important measure, and this should not be the case. Place your goals as top priority always. In the example mentioned above, you should concentrate more on your goal of customer satisfaction. After all, customer satisfaction would still lead to profit in the long run.

Secondly, you should make sure to have indicators that are measurable and quantifiable. Each of these indicators are geared towards specific targets ? targets that are attainable within a specific period of time as well.

One popularly used theory is the carrot and the stick ? the Equity theory Cheap Dru Samia Jersey , for a more formal name. In this theory, you have measurable goals that are matched with rewards. This performance management tool holds rewards in the guise of money, awards, distinctions, recognition Cheap Alexander Mattison Jersey , and company perks. These company perks can include paid vacations, cars, and promotions.

Another theory to consider is the Personality Trait Theory. For this theory, you need to know the kind of people you would want for your company. You also need to be on the lookout for positive and favorable traits, such as independence Cheap Irv Smith Jr. Jersey , persistence, self-confidence, intuition, and tolerance of ambiguity. All of these qualities foster a creative work environment.

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