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List the non-financial performances objectives.
61 Lectures 1 hours
43 Lectures 33.5 hours
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.
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