Assignment 1: Discussion—Performance Measurements
Both the Genesis Energy and Sensible Essential Consulting teams believe that the client engagement was very successful. All the critical learning tools were fully explored. However, the operations management team believes there were several topics that were not covered but are important to their respective disciplines. These topics centered primarily on selecting/developing meaningful and rational measurements of performance as they relate to measuring the success of the company’s expansion strategy. The financial indicators are important, but the team is also concerned about more forward-looking measures that might reflect product quality, customer satisfaction, internal process efficiency, performance, and perhaps, other strategic indicators.
Based on your understanding of the concepts covered in this course, address the following:
- Develop and describe a strategic measurement “scorecard” that incorporates the financial measures applied in this course. Consider the prospect of new equity owners and explain why this is important.
- Describe the non-financial measures that should be considered and are important to the success of an organization. Explain why these measures should also be considered in the strategic initiatives of the organization.
By the due date assigned, post your response to the Discussion Area. Through the end of the module, review and comment on at least two peers’ responses.
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding to your peers:
- Read your peers’ answers.
- Provide substantive comments by
- contributing new, relevant information from course readings, Web sites, or other sources;
- building on the remarks or questions of others; or
- sharing practical examples of key concepts from your professional or personal experiences
- Respond to feedback on your posting and provide feedback to other students on their ideas.
- Make sure your writing
- is clear, concise, and organized;
- demonstrates ethical scholarship in accurate representation and attribution of sources; and
- displays accurate spelling, grammar, and punctuation.