1. Lesson 8 - Performance Indicators, customer and staff
satisfaction, wastage and workplace accidents

2. Explain what businesses mean when they refer to performance
indicators (1 mark)
Explanation should refer to performance indicators as
methods that are used to evaluate the success of a business
against set objectives

3. Performance indicators

4. Non financial indicators
Customers satisfaction
Workplace accidents
Level of wastage
Benchmarking
Staff satisfaction
Staff turnover
Consider how can these can influence financial objectives

5. SAC preparation
The process called ‘management by objectives’. !
Management by objectives is a process of defining objectives within an organisation
so that management and employees agree to the objectives and understand what
they need to do in the organisation to achieve them. !
!
These objectives are expressed in a hierarchical form, with the leading statement
being the mission statement and extending down to individual employee objectives. !
!
It can also be used as a performance management technique where individual
employees set specific, measurable objectives with management and their
performance is measured by management against achievement of these objectives.