Presentation on theme: "Performance Indicators Business Management AOS 1: LSOs in Context."— Presentation transcript:
Performance Indicators Business Management AOS 1: LSOs in Context
LSO’s 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 Environments of businesses 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 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 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) AREA OF STUDY 1 – LSOs In Context ☐ ☐☐
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: 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