Transcript LSO Performance Indicators

Performance
Indicators
AOS 1: LSOs in Context
Business
Management
AREA OF STUDY 1 – LSOs In Context
LSO’s
Environments of
businesses
• Definition
• Characteristics
(how to identify
them)
• Typical
management
functions
• How to distinguish
between various
kinds of LSO’s
(ownership, focus,
activity)
• Mission and vision
statements

• Positive/ negative
contributions of
LSO’s
• What are
stakeholders
• Interests and
conflicts of
stakeholders
• How they relate to
environments
• Internal and
external
environment
• Internal, operating
and macro
environment
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Where to next:
KPI’s
• How do we
evaluate the
performance of
businesses
• What is
efficiency/effective
ness
• What are some
specific indicators
to assess
performance
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Where to next:
Further on LSOs
• The SMART way of
objectives
• Hierarchy and types
of objectives
• Typical management
functions (more
depth)
• LSO Economic
Contributions (more
depth)
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Performance Indicator Terms
Efficiency – The way the organisation uses its available
resources to achieve its goals and objectives.
- Examine inputs/resources and how they are turned
into
outputs.
Productivity – is a quantitative measure of efficiency, measuring
the relationship between inputs and outputs.
Effectiveness – The ability of an organisation to achieve its goals
and objectives
KPIs – are criteria used to measure the performance of the
organisation in terms of efficiency and effectiveness. They can
be financial or non-financial.
VCE Performance Indicators you need to know:
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Percentage of market share
Net profit figures
Rate of productivity growth
Number of sales,
Results of a staff and/or customer satisfaction
survey
Level of staff turnover
Level of wastage
Number of customer complaints
Number of workplace accidents