Question

Financial measures alone do not capture all aspects of an organization’s performance. Nonfinancial measures can be either qualitative or quantitative. Indicate by selecting an "X" in the appropriate column whether the following nonfinancial measures are internal operating measures, customer-oriented measures, or employee-oriented measures.

Answer 1

What is Financial Performance measures?

• A company's financial health can be determined by measuring financial performance.

• These metrics are used to assess how effectively a business is utilising its resources to produce stable revenue and operational profitability.
• The focus of financial performance measurement is typically on a business's immediate success elements.
• These metrics are primarily concerned with the company's revenues, profitability, and cash flows.

What is Nonfinancial Performance measures?

• A measure for establishing non-financial indicators of a corporation is non-financial performance measurement.

• These metrics concentrate on a company's overall quality and long-term success.
• Non-financial performance measurement identifies shortcomings in business operations that may have an impact on an organization's long-term strategic success.
• These metrics are primarily concerned with customer happiness and retention, brand growth, staff engagement, organizational capability, market share, etc.

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