Measuring Performance

Performance measurement is today increasingly quite an important aspect in business management and strategic planning. Johnson (2010) believes that any company or organization which operates devoid of performance measurement is akin to an airplane flying without a compass, a Formula One race car driver guiding his car blindfolded or a CEO operating without a strategic plan. For him, performance measurement is significant in two broad ways it enables the business to track its levels of performance thereby enabling it to facilitate better performance in future. The overall aim of carrying out performance measurement in business is to enhance its responsiveness to its stakeholders i.e. employees, business owners as well as customers. This paper seeks to address the issue of measurement