Balance Scorecard: Key Performance Indicators as A Performance Measurement Tool.
ABSTRACT
In every business enterprise, the need for effective management of organizational policies and procedures is very important and can never be over-emphasized. To achieve this goal, there is a need to adequately measure the input/performance of employees and to what extent it aligns with the overall aim of the organization.
This work is designed to expose and equip managers with the necessary tools needed to effectively measure their employee performance on the job. In generating the data needed to achieve the objectives of this study, a cross-sectional survey was used.
Questionnaires were also used as a major instrument for primary data collection. To broaden the researcher’s depth of knowledge in the study area, the researcher embarked on a review of the very minimal related literature with data drawn from secondary sources.
Data generated in the study were presented on frequency tables and analyzed using simple percentages while the hypothesis was tested with chi-square. It was discovered from the research that most organizations could not measure the performance of their employee because of poor performance measurement tools, and in some cases, none at all.
From the findings, it is clear that the existence of policies and procedures is one thing, while the measurement of compliance to these policies is another.
There is therefore the need for effective management of the performance measurement tools of the organization in order for the organization to execute its aims and objectives.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Table of Content v
CHAPTER ONE
INTRODUCTION
1.1 Background of study 1
1.2 Statement of problem 4
1.3 Purpose of study 4
1.4 The Significance of study 5
1.5 Scope of study 6
1.6 Limitation of Study 6
1.5 Research of hypothesis 6
1.7 Definition of terms 8
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 The need for performance measurement 10
2.2 key performance indicators 11
2.3 How an organization defines and measures
progress towards its goals. 13
2.4 What are key performance indicators 13
2.4.1 Key performance indicators reflect the organization’s
goals 14
2.4.2 Key performance indicators must be quantifiable. 15
2.4.3 Key performance indicators must be key to
organizations success 16
2.4.4 Good key performance indicators versus bad 17
2.4.5 What to do with key performance indicators 19
2.4.6 How to use key performance indicators 19
2.5 Performance measurement as a process. 22
2.6 Profile of Zenith Bank Plc 26
2.7 Origin of KPI in Zenith Bank Plc 27
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research design 30
3.2 Area of study 30
3.3 Population of the study size 31
3.4 Sampling and Sampling procedure 31
3.5 Instrument for data collection 32
3.6 Method of Data Collection 33
3.7 method of the analysis 34
CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA
4.1 Introduction 36
4.2 Test of Hypotheses
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION
AND RECOMMENDATION
5.1 Summary 48
5.3 Conclusion 50
5.2 Recommendation 50
INTRODUCTION
From the beginning, it is important to understand why measuring an organization’s performance is both necessary and vital. An organization operating without a performance measurement system is like an airplane flying without a compass or a CEO operating without a strategic plan.
The purpose of measuring performance is not only to know how a business is performing but also to enable it to perform better. The ultimate aim of implementing a performance measurement system is to improve the performance of an organization so that it may better serve its customers, employees, owners, and stakeholders.
A performance measurement system enables an enterprise to plan, measure, and control its performance according to a pre-defined strategy.
Managers at all levels in an organization can track key performance indicators to assess how well their groups are meeting their business objectives, whether performance is improving or declining, and how their group’s performance compares with that of other units or groups within the company and in rival organizations.
BIBLIOGRAPHY
Barger, N.J and Kirby, L.K (1995). The challenges of Change in Organizations: Helping Employees Thrive in New Frontier, Davies Black Publishing Palo alto, CA.
Becker, B and Gerhart, B. (1996) The impact of Human resources management on Organizational Performance: Progress andPospects, Academy of Management Journal. Vol 39 No 4, PP 779 – 801.
Caldwell, P.L (1999). “Achieving Business Excellence in a Developing Economy – The Mobil Experience”. Lagos; Jeromelaiho and Associates Ltd, Ikeja.
Deery, S., Plowman, D. and Walsh, J. (1997), Industrial Relations: A Contemporary Analysis, McGraw-Hill, Roseville.
Ebere, E. (1996). “The changing face of management”, Research and Industries News, Vol 1, No 2, p.5.
Eilean, Kane 91987) “Doing your own Research” New York marion Boyass.
StudentsandScholarship Team.
Be the first to comment