Management Assignment Example | Topics and Well Written Essays - 2000 words

Management - Assignment Example Managing performance is an ongoing activity that involves identification of performance measures, implementation of the performance management system, evaluation of performance outcomes and provision of feedback for improvement purposes (Kammerer, 2009). Importance of measures of organizational and managerial performance of Mid Staffordshire Hospital Trust Organisational performance measures assess how well the organisation contributes to the attainment of its vision, mission and strategic goals. Managerial performance measures focus on how well the management plans, organises and allocates limited resources in an efficient and effective manner towards the attainment of organisational goals (Kammerer, 2009). Measures of organisational and managerial performance are importance since they enable the organization to meet the demands of external accountability and foster strong sense of internal accountability. Measures of performance provide the basis of implementing organisational stra tegies through identifying the expected performance goals. The measures allow for collaboration through integrating the objectives of the organisation with the key performance indicators (Kammerer, 2009). ... The measures will enable Mid Staffordshire NHS hospital to improve communication with external stakeholders such as suppliers of medical equipment and government regulatory agencies. The measures of performance justify expenditure and costs in the organisation through ensuring cost-effectiveness and identifying the value for money committed towards improvement of organisational processes (Niven, 2005). Advantages and disadvantages of using balanced scorecard approach to organizational and managerial performance Balanced scorecard was developed by Robert Kaplan in early 1990s, but has certain advantages and disadvantages as a measure of both organizational and managerial performance. Balanced scorecard translates the mission and business strategy in to a comprehensive set of performance measures that cater for the overall organization. In addition, the performance measurement tool acts as a communication tool since it outlines the employee expectations and aims at ensuring periodic ev aluation of the performance standards (Christensen, 2008). According to Daft (2010), the tool integrates both short-term and long-term measures of performance and forms the basis of employee compensation. Ideally, balanced scorecard offers an advantage as performance management system since it breaks down strategic measures to the bottom level units such as department, clinical units, and individual staff within the organization. Balanced scorecard enhances creativity and innovation in the organisation through continuous learning and growth opportunities for the staff and improvement of the processes (Ginter, Duncan & Swayne, 2013). Lastly, the performance management tool leads to unique competitive advantage through improved decision-making and improved processes in the entire