Nurtured at KiBO

Performance Measurement aims to establish how well something or somebody is doing in relation to a plan.

Do you measure your performance anyway? Well, a week ago a friend told me how she had decided to run herself like an organization. I was quite intrigued and I had to quickly suggest to her that being her accountant was good for me. Of course I had the wrong picture. My next question was how she would accomplish that...

"You see, successful business enterprises customary develop yard sticks through which they assess performance after a given period. For instance, they prepare budgets to the various items such as sales, costs and profits. At the end of the financial period, actual results are compared against the expected. If the enterprise deals in two products Biscuits and Yummy donuts. Through the actual sales results and budgeted sales of the two products, the entity can be able to make an informed decision such as ' if the sales of Yummy donuts are exceedingly higher than those of Biscuits, then, it would be profitable if the entity majored in Yummy Donuts' Or as well make a point of investigating why those of Biscuits are low.

This was a puzzle to me, therefore I asked her the correlation between myself and a business organization. " For you to run yourself as such, you need to be honest with yourself and develop yardsticks such as: