Philippine Christian University: College of Arts, Sciences and Teacher Education
Philippine Christian University: College of Arts, Sciences and Teacher Education
Dasmariñas Campus
A growing business needs to be managed closely and carefully to ensure the success of
new investment decisions and expansion plans. However, many owners find that as their
business grows, they feel more remote from their operations. Running performance measurement
systems can be an important way to keep track of your business's progress. It gives you vital
information about what is happening now and also provides the starting point for a goal-setting
system that will help you implement your growth strategies. This guide exposes the business
benefits of performance measurement and target-setting. It shows you how to opt for that key
performance indicators to live and suggests examples in an exceedingly range of key business
areas. It conjointly highlights the most points connected in mind once setting targets for your
business. Furthermore, performance measurement is essential for improving the organization.
Having an effective performance measurement process is very significant because it the long-
term success of a business depends on achieving goals with limited failure in the world very
competitive business today. The importance of performance measurement is not always easy to
justify, but it is necessary to improve long-term performance. Effective performance
measurement helps companies identify their strengths and weaknesses, best results, areas to
improve and helps establish benchmarks with historical data.
QUESTION 2: Among the 3 presented PMs, which do you think is the best to acquire in a
business?
Management by objectives, or MBOs, is one of three PMs that are useful for measuring
employee performance in control or management positions. MBOs begin by identifying
employee objectives, and from that point the employee and her manager list the resources needed
to achieve those goals.
MBO brings a wide range of advantages to the evaluation process. Helps build
relationships between managers and employees. MBO includes a lot of contact and
communication between directors and their employees, which creates camaraderie,
communication, and trust-all the key elements to strengthen teamwork. It promotes a
comfortable climate in the workplace. MBO helps build an environment of respect and trust
within a given department and beyond. It's fair. Employees are assessed on the basis of their
performance and achievement of objectives, which are considered fair and energizing. It's quick
and easy. Typically, they spell out each objective as established at the beginning of the cycle,
and then provide a space for the manager to summarize the results.
Some MBO forms also include a scale that calls for a numerical evaluation of the success
of employees in achieving their objectives. These scales guide managers in the grading process
including specific descriptions of excellent, good, fair and poor levels of achievement of
objectives.
Project Managers rely on several tools and techniques for total quality management. They are:
1. Right First Time: Employees ensure quality while they work. They do the right things
first time. They aim for zero defect.
2. Benchmarking: It is the process of learning from best practices of other projects that
produce superior performance. They do exceptionally high-quality things.
3. Outsourcing: It is subcontracting services and operations to outside firms who can do
them cheaper and better.
4. ISO 9000: They are set of quality standards created by International Organization for
Standardization (ISO). Organizations obtain certification form ISO for product testing,
employee training, record keeping, supplier relations and repair policies and procedures.
5. Statistical Quality Control: It includes a set of specific statistical tools that can be used
to monitor quality. It is based on sampling.
6. Just-in-Time Inventory Management (JIT): Inventories are received just-in-time to be
used up by production. They are not stored.
7. Speed: Speed is the time needed to get the activities accomplished. TQM increases
speed. Speed becomes a part of project culture.
8. Training: Employees are provided continuous training in quality matters. Quality circles
also serve as training grounds for TQM.
QUESTION 4: Imagine you have a business, among the T&T presented from this lesson,
choose one that you think is the best to apply in our current pandemic situation. Explain
how you will use it and how it can help your business.
The year 2020 will be remembered as the year that changed the world. COVID-19 has
changed the way we look at our lives, the way we behave and the way we do business. Even
when the pandemic is over, things will never happen again - we will have a "normal News". How
can an ISO 9000-based quality management system help businesses survive, recover and succeed
during this crisis?
ISO 9000 also includes guiding standard that emphasizes a company's "sustainable
success". It involves factors that affect the success of an emerging business, evolve, increase or
decrease over the years, and adapting to these changes is important for lasting success. Instances
include social responsibility, environmental and cultural factors, in addition to those that may
have been previously considered, such as efficiency, quality and agility; Taken together, these
factors are part of the business context.