All entries for Thursday 22 October 2009

October 22, 2009

The implementation fo Measurement of Result

Today we had a presentation about The Measurement of Result. The presentation was good because it represented the fantastic approaches to measure of the results and they seemed to be useful.

However, I'd like to say sth about the fact of implementation, or the application of the measurement approaches. From my experience of working in music industry and education agency, those perfect approaches, actually, not used in many industries. In fact, many companies are still using what we need to crtique in the topic. I think the reason is related to the company's size and what it does in the industry.

 Take my experience of working in an education agency as an example. Our boss has targeted performance for every employees. These targets are about how many contracts we can sign with our customers. In other words, it means how much profit that we should make for the company. What's more, these targeted amount is based on the same period last year. As the market is expanding, the targets are usually higher than the same period last year. So the result is, my colleagues have to work overtime and even at weekends, because if the targets are achieved, they will lose the bonus.

  The same situation appears at the music company I used to work in. I can always hear the marketing department people complain the heavy load work of promoting the new releases. If the new releases cannot reach the targeted sales, then they will also lose so much bonus, and then have to promote another new artist, then worry about the sales...Just like a a vicious circle¡£

  After doing this project, I cannot stop thinking, how many companies and people are facing the same situation I' ve ever faced? Are there any problems in introducing such approaches? and do we have a more fittable approach for them?

  Well, from my existing experience, I think the size and the industry can affect the result of the measurements.

  There are not so many large size companies in the world, most of them are middle and small size companies. From my experience, size decides the resources. Such companies might not have the same financial power, the equivalent human resource etc. as those famous companies. Therefore, the implementation of the perfect measurement approaches might not be used, or used not perfectly. The most obvious is finance. For a small companies, they cannot afford the relatively high cost on introducing some models like Scorecard. Such models are consuming. Thus these companies are using the traditional, and 'bad' mean, paired comparison. This mean looks stupid and out of date, but it is still used in many small companies. The boss uses it to motivate his employees. Though it is not systematic, bias and logical, many bosses prefer it because it is the straight way that they can achieve the more profit. This might not be accurate, but at least is what I experienced before.

  Another point I think about is the industry a company is in. I find that MBE's courses are mainly about manufacturing and it is more like an MBA course. Therefore these measurement approaches are quite related and useful for factories and some suppliers. However, in some industries, such approaches are not used and they have their own approaches. For music industry, we compare the sales of the artists in the same level internally and externally. The period is even shorter because some artists can fade after one week of his new release. Therefore, we actually have paired or dimensional comparisons. Also we compare the historical data of sales. This look even worse, but quite useful and straight for our future works. As a result, those measurement approaches cannot be fully used because they don¡¯t fit the criteria of this industry.

  In final part, I think we¡¯d be taught some more comprehensive models that fit different industries. Also, I think the project topics should be more involved case study, so that we can be more professional in what we will do in the future. If I can luckily research in this field, I will devote myself to get a new model for small size companies. We don¡¯t have so many large ones!

October 2009

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