Facts and Faith?

Sam A. Hout

Chapter 5 in Survival to Growth, 2013, pp 45-54 from Palgrave Macmillan

Abstract: Abstract Systematically, leaders in an organization need to develop meaningful metrics to assess profit per base unit (profit per employee, profit per customer visit, etc.) Examples of denominators could be per employee, geographical region, risk level; per customer; per brand; per quantity of finished goods; per group of people, etc. The value of these metrics is in measuring the performance of a company over a period of time to observe trends and try to separate events from established processes that affect the company’s overall performance and profitability over time. These metrics should be based on scientific principles to ensure that the measurements reflect realities that stand behind the health and longevity of the organization. This chapter highlights the key interests that a scientific approach and methodology will preserve to ensure that company procedures follow acceptable principles that will lead to success.

Date: 2013
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DOI: 10.1057/9781137359063_5

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