7.3a Using Non-Financial Data to Analyse Performance

Question 1

Performance metrics are used in a business to judge what?

Answer 1

How well it is doing

Question 2

Difficulties in using marketing, HRM and operations data:

Answer 2

• No standardisation
• Difficult to make judgements based on opinions
• Reflection on what has happened rather than what might happen

Question 3

What are the models created to judge performance?

Answer 3

• Kaplan and Norton’s Balance Scorecard

- Elkington’s Triple Bottom Line