Essay: Financial and Non-financial Performance Business Performance Management

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  • Financial and Non-financial Performance Business Performance Management
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Assignment Topic:
Financial and Non-financial Performance
Business Performance Management
(Case study: Tanoa Hotel Group-THG)
Abstract
From past years organizations embrace performance systems for a variety of reasons, but most importantly to improve control over the organization in means that traditional accounting systems have not allowed. Several tactics, or structures, for building and managing Business Performance Measurement (BPM) systems have progressed with the stable record as the dominant framework in use today (Vince Kellen 2003).
Despite the developing use of BPM systems in organizations of all kinds, significant problems cause firms to practice toil in implementing BPM systems. The hitches range across a variety of topics: excessive diversity in the field of study, data quality and information system addition problems, lack of connection to strategy, fundamental variances in how a strategy is articulated and executed in the firm, ill-defined metrics identification processes, high levels of alteration in BPM systems, analytical skills challenges, understanding as a social and non-deterministic phenomenon, assessment and decision biases (from prospect theory literature) and organizational defenses that can weaken prosperous BPM systems use.
Given the frequent information processing and computing power enhancements coupled with the advances in business strategy concept, analysis of decision-making, organizational knowledge and BPM systems overall, BPM systems are at a junctions of difficult problems and interesting prospects.
Introduction
This paper reveals business financial performance and non-financial performance extent and if it is effective in Fijian companies, for example, in the situation of Tanoa Hotel Group (THG). Performance should not be seen as a sole dimension. As is frequently the case with the financial dimension should be seen more holistically: over financial, non-financial, quantitative and qualitative dimensions and mixture of financial measures (dollars) example profit & loss; in non-financial but quantitative terms, for example, market share percentage client retention (month of years), clear registrations (number): in combinations of financial and quantitative terms.
Moreover, organizations use unlike terms for their performance measures such as important performance indicators (KPI) features. Firms may call their performance measurement system a ‘dashboard’ or a ‘scoreboard’. A common saying in performance measurement is ‘what gets measured gets done’.
Performance measurement has numerous roles which comprise providing information:
‘ for manager to assist in planning, decision making and control in hunt of value creation;
‘ on environmental and social sustainability; and
‘ for signaling to investors
Important performance indicator (KPI) is a measure used to reveal organizational success or progress in relative to a specified goal. The tenacity of KPIs is to monitor progress towards achieving the strategic objectives that are typically linked in a strategy map. KPIs are typically involved in a reporting scorecard or dashboard that enables top management, the board or other stakeholders to emphasis on the metrics deemed most serious to the success of an organization.
Financial KPIs are commonly based on income statement or balance sheet components, and may also report changes in sales development, which is, by product families, channel, and customer sectors or in expense categories. Non-financial KPIs are other measures used to evaluate the activities that an organization sees as important to the attainment of its strategic objectives. Distinctive non-financial KPIs contain measures that relate to customer relationships, employees, operations, value, cycle-time, and the organization’s resource chain or its pipeline. Some prefer to use the term ‘extra-financial’ rather than non-financial, suggesting that all measures that contribute to organizational success are ultimately financial. In addition to financial and non-financial, other common categories of performance signs are quantitative versus qualitative; leading or lagging; near-term or long-term; input, output or process indicators etc.
Additionally, in order to endure and succeed, businesses need to set strategic directions, establish goals, execute decisions and monitor their state and performance as they move towards their goal. Once a firm becomes large enough that a single manager cannot sense the firm’s present state and cannot control its behavior alone, the firm must use performance dimension and control systems to switch the eyes and ears of the responsible manager. Over the past few years, firms have used information technology to provide this ‘sense, control and capability.
Furthermore, developing KPIs should be part of an overall strategic management process that connects the overall mission, vision and strategy of an organisation, and its short- and long-term goals, to precise strategic business purposes and their supporting projects or initiatives. Understanding the organisation’s value drivers and the fundamental activities and competencies that underpin its value proposition is a significant first step in this process. The experiments in implementing performance measurement arise in the following areas:
‘ Technical – Data quality & latency, application usability, visualization of data
‘ Organizational – Business culture, leadership, practices, strategic control and intent
‘ Individual – Gesturing, biases, framing and decision-making abilities
Thus, overcoming these challenges is not as modest as finding the right software, creating the set of best practices and implementing a Business Performance Measurement system.
Literature Review
As part of performance management, organizations should use both financial performance indicators and non-financial ones. It is suggested that non-financial measures are crucial to overcome the inadequacies of traditional financial measures which have headed to the widespread adoption of such measures (IFAC 2012).
Nevertheless, it is unclear how employees reply to these new measures. This study on Tanoa Hotels assumes that favorable employee behaviors will only happen if employees perceive performance evaluation standards as fair. For instance, Employee of the Quarter and Year (EOQ & EOY) held every year to motivate and grow employees for an enhanced performance.
It is therefore vital to ascertain if the use of non-financial measures as performance criteria is procedurally just. Built on the management of Tanoa Hotels, the outcomes show that the use of non-financial performance trials are perceived as procedurally fair to financial performance. We also discover that such opinions are associated with higher organizational obligation which, in turn, enhances employee job performance.
The balanced scorecard (BSC) seems to be the newest management fashion to swing the organizational world. Despite its actual popularity, we have only limited systematic, research-based evidence on BSC applications. This study wishes to find out how BSCs are applied in Fiji and why companies accept them. The study included a series of semi-structured interviews in Tanoa Hotels. It appears that BSCs are used mostly in two different ways. The first approaches management by objectives. The second is to use BSCs simply as an information system.
Likewise, our findings suggest that the idea of relating measures together based on assumed cause-and-effect interactions was not well understood by the early adopters of BSCs. In clarifying the popularity of BSCs in this organization, service-side forces seem to have a significant part. These results, as well as the explanation of the BSC, are discussed and thoughts for further research are presented.
Findings (Case Study on Tanoa Hotel Group)
Tanoa Group has financial performance measures as part of their performance measurement.
Financial objectives of Tanoa Group (profit-seeking organisation)
Financial performance measures are necessary because of the primary objectives of the company, that is, to make profit.
Maximising shareholder wealth
The primary objective of any profit seeking organisation is to maximise shareholder wealth. For instance, in the case of Tanoa Hotels is the same goal. This is based on the argument that shareholders are the legal owners of a company and so their interests should be prioritised. Shareholders are generally concerned with the following:
‘ Current earnings
‘ Future earnings
‘ Dividend policy
‘ Relative risk of their investment
All of these are motivated by financial performance.
In addition, financial performance exists at different levels of the firm. This page is mostly concerned with measuring the financial performance of the organisation as a whole, and of measuring the performance of key projects. Furthermore, measures are used as part of a particular problem of divisional performance appraisal.
Traditionally, financial performance measures are split into the following categories:
‘ Profitability
‘ Liquidity / working capital
‘ Gearing
‘ Investor ratios
Survival and growth
The objective of wealth maximisation is usually expanded into three sub-objectives:
‘ To make a profit and survive. For instance, Tanoa Group of Hotels has a vast range of hotels through Fiji and also internationally. To operate such a big organization, the group has employed at least 600 people. The company needs to pay the salaries and wages of the staff. If there is no profit, there is no money to pay the workers. If there are no workers, the company will stop operating.
‘ To continue in existence, whereby, survival is the ultimate measure of success of a business. Without survival then obviously there will be no fulfilment of other objectives. In order to survive in the long-term Tanoa Group must be financially successful. To survive in this competitive world, Tanoa group has used many techniques, few of which are: Sales and Marketing and Advertising. Using these methods Tanoa group has won ‘AWARDS ‘IN 2010 & 2011 (PEOPLES MANAGEMENT AND PERFORMANCE MANAGEMENT).
‘ To maintain growth and development – growth is generally seen as a sign of success, provided it results in improvements in financial performance. Tanoa group has their own training and development department, whereby, staffs are trained for exceptional customer service, which in return brings in more sales. Tanoa has also increased its number of investments, for example the recent purchase of International Dateline Hotel in Tonga and upgrading of Hotels in Fiji to first class.
Therefore, growth can be identified in a number of ways both financial and non-financial.
Financial:
‘ Profitability
‘ Revenue
‘ Return on investment (ROI)
‘ Cash flow.
Non-financial:
‘ Market share
‘ Number of employees
‘ Number of products.
Financial goals drive higher profits, but non-financial company objectives also aid in improving the company as a whole. The non-financial improvements help round out the company’s strengths in areas like customer service, production quality and employee satisfaction. These areas create a stronger company as a whole that is able to perform better in the market, increasing profits.
Non-financial objectives
Quality Management
The quality of work produced by your company affects your reputation and amount of business you receive. Whether you sell a product or a service, you want every sale from your company to be top-notch. Consistency is another key factor in the quality of a company. When you offer consistently high-quality products or services, your company gains a positive reputation that potentially leads to more business and repeat customers. Create standards for the items you produce or sell. Establish guidelines for the services you provide, particularly if you have multiple employees providing the service (Shelley Frost, studio).
Tanoa Hotel Group is committed to meeting and exceeding customer’s needs and expectations, as well as conforming to all of their requirements. The firm strives to provide quality products and services by taking the time to fully understand the requirements of their customers.
They are committed to continually improving the quality of their products and services to maintain reputation as the leader in their field of operations.
Tanoa Hotels commitment to quality improvement is shared by each team member within the company and each team member is dedicated to customer satisfaction by:
‘ Providing their customers with the highest quality products and services
‘ Providing those products and services on time and right the first time
‘ Providing open communication with their customers and suppliers
‘ Providing a system of Continuous Quality Improvement and Assurance
To achieve stated policy objective, Tanoa Hotel Group is committed to establish and maintain an effective Quality Management System, conforming to the requirements of the ISO 9001:2000 standard and applying the principles of Fiji Business Excellence Award and Quality Circles in achieving and sustaining results.
Each of Tanoa team members are responsible for ensuring that their customer’s needs are met through excellent service and on-time deliveries. Tanoa Hotel Group is proud of the fact that each team member has a direct impact on their organization’s growth and reputation throughout the markets that they serve.
Tanoa Hotel Group provides training to each team member in the functional aspects of their job and in the pursuit of knowledge to increase performance and customer satisfaction.
Customer Analysis
Along with a quality product or service, aim to provide your customers with a positive experience every time they interact with your business. Making your customers feel valued encourages them to give your company additional business in the future. Improved customer service is possible through employee training and high expectations. Monitor your employees’ interactions with customers. Surveys and informal conversations with employees help you assess the level of customer service you currently provide and areas in need of improvement.
Tanoa Hotel Group is using and taking advantages of this concept. Financial goals drive higher profits, but non-financial company objectives also aid in improving the company as a whole. The non ‘financial improvements help round out the company’s strength in areas like customers service, production quality and employee satisfication.These areas create a stronger company as a whole that is able to perform better in the market increasing profits. Tanoa Hotel Group management has a clear understanding of the market segment that they are targeting i.e. corporate / business travellers, conferences and events. The organization is committed to its customers’ needs and their well-being and has deployed some initiatives to satisfy those needs, e.gs. In-room wireless internet, sales call visits to customers, boards and notices in place to assist customers to get to destinations easily. The management and employees’ eagerness to incorporate changes in its operating environment and changing stakeholder needs has seen a great step forward in its participation in the external events .Tanoa Group Hotel realizes that the prosperity and success of their organization in the past and the future depends on the employees’ involvement and commitment and is therefore engaged in empowering staff through training, coaching and involving them to realize their full potential. Tanoa Group Hotel encourages staff to come up with creative ideas to solve problems and improve processes and uses initiatives such as the FBEA and QC Teams as the mechanism to do this. Tanoa Group Hotel has a documented planning process incorporating a clear and transparent alignment from the strategic plan to business plans, team plan projects and individual performance agreements (linking targets from organizational, functional to individual).
Strategy and Measurement
THG has developed a broader range of indicators to measure its overall success and a process to regularly review these to ensure strategic intent is achieved, e.g. trend performance, comparative data against competitors/industry, balanced scorecard. These indicators should reflect the key result areas in the strategic plan and stakeholder requirement and also has established a full set of quality indicators with input from customers to determine quality measures for products and services. Tanoa Group Hotel has explicitly identified high level risks to its long term sustainability (e.g. social, economic, political and environmental) from the strategic planning process and develops strategies with indicators to address these risks. Tanoa Group Hotel has developed an understanding of current and future core competencies required for staff and link to a strategic approach for building organizational learning, .e.g. Key Result Areas (KRA) and Key Performance Indicators (KPI).
Strategic Direction
Tanoa Hotel Group has adopted the Reddy Group Vision, Mission & Values and is working hard to improve the awareness amongst staff, e.g. pocket-size card.The Organization has redesigned its website and has completed rooms renovations based on requests and needs of customers to add value to its services in its quest for continuous improvements. THG management has a clear view on the market segment that they operate in, i.e. corporate clients, (small to medium) events and functions. THG could consider a more structured approach in developing their strategic direction, e.g. a documented process and more input from THG to the Reddy Group’s strategic thinking and planning. The group considered developing a formal process to measure key stakeholders input and satisfaction with Town’s services, e.g. Staff, suppliers and community and adopting a risk assessment approach when considering strategic direction in alignment with the global changes and the needs of the future.
Moreover, Tanoa Hotel Group is totally committed to providing a safe and healthy working environment for employees, guests, visitors and contractors. They comply with all safety regulations and establish safe operating standards. Management shall ensure that everything practicable is done to prevent injury or illness arising from unsafe work practice and all employees are expected to be individually and collectively responsible for working in a healthy and safe manner.
The Managers And Supervisors Will Provide:
‘ Safe and healthy systems at work.
‘ Safe equipment, substances, furniture and premises.
‘ Facilities for the welfare of workers and non-workers at the workplace.
‘ Information, instruction, training in appropriate languages and supervision; and
‘ Purchasing of safe, healthy equipment and substances.
So that workers and contractors are able to work safely and without risks to their health.
Workers Are Required To:
‘ Cooperate with management to enable the management to fulfil their duty of care under the act.
‘ Take care of equipment and substances provided in the nearest of health and safety.
‘ Report all known or observed hazards, incidents and injuries.
Contractors, Customers And Visitors Are Required To:
‘ Take all reasonable care of their health and safety while in our premises; and
‘ Cooperate with management and worker on their duty of care under the act.
Management will consult and cooperate with the health and safety committee in health and safety matters as provided Under Section 21 of the Act and the health and safety at work (Representatives and Committees) regulations, 1997. This point shall be periodically reviewed to ensure its efficiency and effectiveness.
Furthermore, Tanoa Group believes that as a business, they have a responsibility not only to minimize our impact but also to make environmental policy a key and integral part of our business strategy. Tanoa Group acknowledges that environmental management must be amongst the highest priorities and therefore will undertake the required investigation and relevant research work into minimizing the environment impacts of its operation. In order to meet its environmental obligations, Tanoa Group Hotel
‘ Regularly review the company environment management system to continually develop and improve environmental performance
‘ Undertake regular environment audit and review in compliance with the relevant
‘ Legislations to excel quality performance
‘ Comply with all relevant Legislations, Corporate policy and other legal requirements.
‘ Integrate responsible environmental practices into the enterprise to increase productivity and minimize environmental impact.
‘ Work together with relevant authorities in the development of coherent and realistic environment guidelines and policies.
‘ Communicate the environment commitment outlined in this policy to all employees, contractors, supplies and stakeholders through awareness programmes, training and company publications.
This environment policy shall be periodically reviewed to ensure its efficiency and effectiveness
Leadership throughout the Organisation
Delegation and empowerment prevails at Tanoa Group amongst the senior management to heads of departments. Leadership Management Program, Management Trainee Scheme, and Forums are in place to develop future leaders.THG provides opportunities for staff at all levels to develop leadership skills through leading QC (Quality circles) teams. Employee engagement and satisfaction allows creating a workforce of engaged, loyal employees. With increased employee morale often comes with better attendance and efforts. The objectives related to employees’ satisfaction include giving staff greater responsibility, rewarding exceptional work, creating a positive work environment, promoting teamwork and communicating openly with employees. The Tanoa Group are quarterly rewarding its employees for the excellent job and service being provided to their valuable customers. The criteria which they use to assess the performance of an individual are based on three pillars. They Are:
‘ Our People
‘ Our Guests
‘ Our Company.
Employee Engagement and Satisfaction
Focusing on employee satisfaction allows you to create a workforce of engaged, loyal employees. with increased employee morale often comes better attendance and effort. To improve the workplace for your employees, you show them that you care about more than simply making money. The key objectives to relation employee satisfaction include giving staff greater responsibility, rewarding exceptional work. Tanoa Hotel Group rewards their employees into various categories.
Tanoa way
Tanoa’s got Talent
The Inaugural Tanoa’s got Talent show was held at Tanoa Skylodge Hotel on the 21st of November 2015. Reddy Group’s foundational values are embedded on grooming their employees, not limited to professional development only but recognizing and polishing their hidden talents and gifts as well. Reddy Group believe in bringing out the best in our people. Tanoa’s got Talent show provides a platform for their employees to showcase what they may not be able to do so during their everyday working life. It was an amazing showcase of talent. Who knew what lay hidden within their colleagues that they have worked with for so many years! Some sang, some innovatively enacted their daily work life in an act, some showed how the Tanoa hotels gel in to produce better results and some boldly displayed their individual talents. Tanoa people had fun, whilst representing their properties and department, they helped each other succeed.
Tanoa Salon Culinaire
Tanoa Salon Culinaire is about skills, passion, camaraderie, team work, pride, and the will to win. However, principally it is an opportunity for Tanoa chefs to show us what they can do, and display the skills they use every day. The competition has been aligned to the National Salon Culinaire criterion, and has been designed in a manner that it not only provides the platform for Tanoa Chefs to showcase their skills and display their talent and creativity, it also provides them the medium to further hone and polish their skill set. In addition, the competition is also the platform that allows Tanoa to select their competitors for the national Salon Culinaire in a most transparent manner, and to train and develop our chefs to the next level. It is an ideal time to get competition level experience before the nationals, hence all chefs looking to take part at national level are encouraged to take this competition just as seriously.
FUN AT WORK
Tanoa Tusitala Staff Awards
The Annual Staff Awards for 2015 brought the Samoan Prime Minister himself to address our rewarding employees. He shared his experiences in the different food & beverage outlets he has previously been in, the important role of fulfilling guest’s expectations, and being an honest employee.
Tanoa Hotels Management Meeting
The latest Tanoa Hotels Management meeting was held at Tanoa Rakiraki Hotel in the last week of November 2015. Tanoa Rakiraki was fabulous hosts and after all the hard work was over, they put on a fun bowls match for everyone, followed by a lovely meal.
Public Relations
Another non ‘financial area for Tanoa’s goal is public image. Improving the way the general public views their company can mean increased business and stronger relationship with the community. Potential objectives include maintaining a professional image, establishing a positive social media presence and giving back to the community. Tanoa Hotel Group had donated $100,000.00 to Prime Minister’s Relief Fund as Cyclone Winston Assistance and further they had given out $25,000.00 to Rio Games.
How Tanoa Care ‘Community
Tanoa International host breast cancer awareness high tea
Tanoa International Hotel and Fiji Cancer Society’s’ western branch arranged a high tea to create more awareness on breast cancer. This was a first such event to be organised in the West and the successful high tea also featured Jennifer Heath, a
Wellington based jeweller, showing her freshwater pearls collection. A percentage of these sales went towards the Fiji Cancer
Society for raising awareness and outreach programmes on breast cancer in Fiji. Guest speakers were two cancer survivors and a woman recently diagnosed with cancer and the doctor overseeing the cancer unit at the Lautoka Hospital who spoke about the medical system and treatments available.
Tanoa Tusitala support the Samoa Cancer Society
A fund raiser hosted by Tanoa Tusitala rose over ST$150,000 and was well attended by the community and business houses. The Samoa Cancer Society is tirelessly involved in the community and lends support on numerous levels for cancer patients in Samoa. Tanoa Tusitala and Reddy Group were glad to contribute to this worthy cause. GM Jason Strickland and Executive Chef Michael shaved their heads in support, and are now having to turn away modelling contracts. They have also been contacted by the Fast and the Furious movie franchise to be Vin Diesel’s body double. Negotiations are underway with Jason obviously being a front runner due to his muscular physique!
Tanoa Waterfront host breast cancer awareness function
Tanoa Waterfront Hotel hosted breast cancer survivors to a luncheon on 15th October as part of the Tanoa Group of Hotel’s annual Pinktober campaign. Launched last year, the hotel’s awareness campaign involves working with the Fiji Cancer Society to raise funds by encouraging corporate bodies to join in the awareness program. Fiji Cancer Society western branch coordinator Margaret Rounds said the support from corporate bodies was an important part of the organisation’s daily operation. ‘We need financial help from every stakeholder that is willing to help us and one of our main supporters is our business community,’ Ms Rounds said. Survivor Tara Wati said co-operation was an important aspect of securing financial assistance for the campaign to help combat breast cancer.
Tanoa Aspen throw birthday party for No 1 guest
Mrs Luce Wilsens’ 85th birthday marked her 25th annual visit to the Fernhill hotel, where she stays between four and six months, always in the same room. She was treated to a morning tea, flowers and a card to mark the occasion, serenaded by staff at the hotel singing Happy Birthday to her before blowing out the candles on her birthday cake. GM Richard Crouch said it is ”always a thrill” to have the sprightly octogenarian visit the hotel. ”It’s just such a pleasure for us to have her every year. ”All of her gear is kept in storage; we fit out the room for her just before she arrives. She’s lovely.”
Recommendations
After review of the Financial and non-financial Performance Measures of Tanoa Hotel Group, we would like to recommend the following:
‘ The Group lacks on succession planning. It has been noted that employees over 60 years old are still working. The group should set strategy where these senior employees can train and develop potential employees so that workload and responsibilities are shared accordingly to avoid any hiccups if senior employee is leave.
‘ Staff Retention ‘ We have analyse that there are high staff turnover due to greener pastures and salary differences. The group should review the market rate and set an effective salary band so that they can retain self-motivated and high calibre staff’s.
‘ Respect and Professionalism ‘ The group should create more awareness and campaigns how to respect each other’s and professional ethnics.
Conclusion
The financial performance is effective in Tanoa Group, however non-financial performance is not fully effective. The group has established their strategies into various categories to measure the effectiveness and efficiencies of specific objectives. The group is expanding, whereby; recently they had acquired a property in Tonga. Both financial and non-financial performance are vital in any organisation as it gives different aspect into the measurement of a company’s success. This will enable the company in setting strategic goals and considering these performance measures to be of a high quality.
Although non-financial measures are important in decision making and performance evaluation, firms such as Tanoa Hotels should not copy measures used by others. The choice of measures must be linked to factors such as corporate strategy, value drivers, firm’s objective and the competitive environment. In addition, organisations should remember that performance measurement choice is a dynamic process, whereby, measures may be appropriate today, but the system needs to be continuously be reassessed as strategies and competitive environments evolve.
Moreover, customer and quality performance measures are used by the responding companies in the following performance measurement and evaluation purposes (i.e. managerial performance evaluation and identification of improvement opportunities and development of action plans), setting strategic goals and considering these performance measures to be of a high quality. Employee and supplier performance measures are used by the responding companies in the following performance measurement and evaluation purposes (i.e. identification of improvement opportunities and development of action plans), setting strategic goals and considering these performance measurements to be of a high quality.
Furthermore, the case study also shows a clear indication that the use of all performance measures in all performance measurement and evaluation purposes, setting strategic goals and the level of quality of these performance measures are significantly correlated. Even when there are significant correlations, these results might give indication on the measurement gap between the corresponding use, setting strategic goals and the level of quality of these performance measures. This gap indicates that the use of performance measures for one purpose does not imply that the measures are used for other managerial purpose
Therefore, it can be concluded that financial performance measures continue to be an important aspect of performance measurement system. These measures are supplemented with several non-financial performance measures. However, the type of non-financial performance measures used by Tanoa Hotel Group depends on the perceived usefulness of the information that may result from using these measures in performance measurements and evaluation.
References
Wharton School (2000, December 06). ‘Non-financial Performance Measures: What Works and What Doesn’t’. http://knowledge.wharton.upenn.edu/article/non-financial-performance-measures-what-works-and-what-doesnt/
Vince Kellen (2003, February). ‘Business Performance Measurement’. http://www.kellen.net/bpm.htm
M. Zuriekat, R. Salameh, S. Alrawashdeh (2011, May). ‘Participation in Performance Measurement Systems and Level of Satisfaction’. http://www.ijbssnet.com/journals/Vol._2_No._8%3B_May_2011/20.pdf
Shelly Frost. ‘List of Non-Financial Performance Objectives’. http://smallbusiness.chron.com/list-nonfinancial-performance-objectives-35524.html
Marr, B. (2008). ‘Managing and delivering performance’, Elsevier Ltd, Oxford. http://www.cgma.org/resources/tools/essential-tools/pages/kpis.aspx
CGMA. ‘KPIs ‘ financial and non-financial performance management’. http://www.cgma.org/resources/tools/essential-tools/pages/kpis.aspx

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