Measuring performance the productive way

Performance measurement is a conscious effort on the part of any organisation to know its standing vis-a-vis others in the contemporary field besides its attempt to know the utilisation of its internal resources. In today's highly competitive business environment, an effective performance measure is required that will help managers to understand whether their business is moving as per plans or not. With growing complexities in the business world, traditional performance measures, like financial measures, seem to be inadequate to address problems faced by the managers to carry their business effectively. It is being viewed as a simple manipulation of various costing data available with the organisation. A good performance measure is one that can be used in decision-making process. Productivity is a buzzword in the competitive business scenario today. It covers all aspects of manufacturing/service sectors. It has become a powerful tool with the managers to continuously enhance its operational capabilities and increase returns from scarce resources. A case study is presented to augment authors view on performance measurement.