Free Accounting Dissertations - It Only Shows That For Success To Be Achieved Royal Mail Would Have To
It only shows that for success to be achieved Royal Mail would have to incorporate elements of innovative performance measurement.
In addition to the above, to effectively manage and measure performance, Royal Mail should integrate PMS into the structure of the organisation, so that staff collects and report the necessary information as part of their daily routine It can be achieved by agreeing corporate and departmental objectives, followed by devising performance indicators to measure achievement of the objectives. Targets would need to be set for appropriate indicator and responsibilities would be assigned to the managers or achieving these targets. Once the targets have been set, they should then be broken down into individual/team targets. It must be ensured that mechanisms are in place to gather data on performance indicators and targets; and finally it should be reported to senior members and the data gathered can be used to review corporate and departmental objectives.
CONCLUSION
>From the preceding paragraphs it can be concluded that Royal Mail has taken the steps in the right direction when it comes to measuring performance. The fact that it is able to recognise its mistakes and take further steps to improve its performance is in itself a positive step in the direction of improving the delivery of its service. It can be said that Royal Mail has become more strategic in its approach by proactively measuring its performance levels. Thus with its continuous effort and incorporating its performance measurement systems in the culture of organisation would result in achieving the results sooner than expected.
BIBLIOGRAPHY
Bacon, C., Practical Portfolio Performance Measurement and Attribution, (2004), John Wiley and Sons Ltd.
CIMA Examination Text, Management Accounting: Performance Management, (2003), The Financial Training Company
Harbour, J.L., Basics of Performance Measurement, (1997), Quality Resources Publishers
Meyer, M., Rethinking Performance Measurement: Beyond the Balanced Scorecard, (2003), Cambridge University Press
Rampersed, H, Total Performance Scorecard: Redefining Management to Achieve Performance with integrity, (2003), Butterworth-Heinemann
Journals and Articles
Birchall, D., Tovstiga, G., Morrison, A., and Gaule, A., Innovation Performance Measurement, Striking the Right Balance, Henley Management College
Royal Mail performance met with dismay, Business Hotine Publications (2004)
ROMEC (Royal Mail) History and Background Royal Mail Website
Other Internet Sources
Royal Mail website [ www.royalmail.com]
BBC website [http://news.bbc.co.uk/1/hi/business/3613158.stm]
Economist [www.eonomist.
Dissertations - Free Accounting Dissertations
Dissertations - Free Accounting Dissertations
