List the non-financial performances objectives.

Finance ManagementAccountingAcademic Content

Non-financial performances have great impact on non – tangibles of a firm. Many of these performances will not focus on the money generation, but they will have positive impact on finances related to business organisations.

Some of them are explained below −

  • Developments of new services/products

Research and development goals will help goals of innovation, new product creation or improvements in existing products.

  • Customer service

Finding new ways to expand customer service by new way will yield customer appreciation, through which it will result in customer retention or addition of new customers.

  • Training programs

Employee training programs helps in work performances, which creates effective and motivated staff. By these programs they can do their job more confidently.

  • Goal setting

Employee goal setting will improve employee’s performances. They will get a path to their projects, which make a positive impact on their careers. Workflow and productivity will also increase.

  • Employee morale

Happier the employee, the more effective they will work. Representation of business increases.

Companies tract non-financial performances for the following reasons −

  • Strength and weaknesses.
  • Affect business performances.
  • To get better feedback.
  • Adjusting external factors.
raja
Published on 12-Aug-2020 11:25:44
Advertisements