Sample Article Review Paper on Business Performance Measurement

This study focuses on why business performance measurement has become essential in the study of management today. Businesspersons should understand the determinants of performance, in addition to how they can measure business performance. The nature of business, competition, need for change, and change in organizational roles are some of the reasons that encourage performance measurement revolution. Many managers encounter data overload, thus, ending up throwing away information that they perceive trivial. The revolution of business performance measurement has also been experienced trough the language utilized in writing annual reports. Thus, managing business performance measurement is critical for long-term survival, as business performance measurement involves applying multiple concepts.

IV. KEY LEARNING POINTS  (100 words)
Identify the key learning points in the read and analyze assigned activity.

Many businesses utilize business performance measurement to enhance sustainability in terms of planning and control. In the next five years, many companies will redesign their business performance measure depending on their nature of work; enhanced competition; change in organizational roles; new initiatives for improvement; change in demand; and change in information technology. The current state in performance management is how to proceed to the next step. The performance measurement revolution would ensure that new language is put in place, in addition to focusing more on customer satisfaction. Business owners can manage performance measurement through organizational strategies.  Performance measurement enhances correlation between the company and the returns from production.

V. RELEVANT STATEMENTS TO THE SESSION
While you reading, identify the relevant statements to the session and insert them in order in the following space.

The contemporary global market requires companies to implement performance measurement strategies for sustainable business success, and to assist in planning and control. Aligning business processes with performance measurement is essential in the management of figures in any organization, to guarantee success.  The value awarded to business performance measurement has helped in identifying the link between customer satisfactions with financial performance. The current state in business operations requires performance measurement, evaluation of data collection process, and implementation of new language in annual reporting. Organizations can downsize their operations through cutting the middle management while motivating the remaining employees to sustain their competitive advantage. Thus, managing performance measurement is critical in facilitating changes in organizational roles.

VI. CRITICAL ANALYSIS (100 words)

 This is the most important section in your analysis. To complete it sucessfully, learner is to consider the following guiding steps:

  • Present arguments coherently, supported by evidence and facts to substantiate on why you may take a particular stance and/ or position towards a particular approach whether against or in support of it;
  • Capable of bridging the gap between the theory and conceptual work with the application under consideration.

Performance measurement is essential for any business that aims to evaluate and assess its productivity level. This is because the levels of competition demand a review of business performance to sustain high productivity through changing organizational roles. Changing the nature of work will help in reducing costs, in addition to developing new tactics for enhancing productivity. When competition becomes tight in the global market, businesses endeavor to differentiate themselves from their competitors through innovation, as well as branding. Performance measurement is required to evaluate, for instance, how customers are accepting the new brand of coffee in the market. Linking performance measurement and strategy encourages consistency in productivity and innovation. 

VII. PRACTICAL IMPLICATIONS (100 words)

  How could you apply the subject matter from the article in a real business case?

What have you learnt? Critical thinking is about lessons learnt to be drawn from the analysis.

Business performance measurement is fundamental in ensuring the survival of any business. Financial and management accounting departments are interested in performance measurement to enhance quality improvement and to maintain competitive edge. The lesson from the article is that as competition persists in the global market, strategies  that focus on customer satisfaction would emerge. Businesses will endeavor to cut on costs, customize on production, as well as improve on value addition to guarantee long-term success. Performance measurement assists in evaluating whether the company is working to maintain its productivity or towards attaining higher goals than what it anticipates. Changes in external demands compel companies to review their roles. Unless the companies devise performance measurement strategies, they cannot evaluate the success of the new strategies.