Effective Measurement Strategy in Business Report

Exclusively available on Available only on IvyPanda® Made by Human No AI

In order to achieve the success while sustaining the change in the organisation, it is necessary to develop the effective measurement strategy which addresses basic approaches and measures that need improvement.

While focusing on the measurement plan, leaders become able to analyse the current progress regarding the change promotion and address any issues and barriers in a timely manner with the help of the proposed reaction plan.

From this point, the main focus is on measuring effectiveness of the change integration, customer satisfaction levels, employee satisfaction levels, training effectiveness, and profitability. Key indicators and reaction triggers are determined to conclude what aspects of the plan need to be changed.

The key objectives in measuring effectiveness of the change integration are the focus on analysing how change integration meets the industry’s needs and stakeholders’ needs and how change integration can respond to the corporate purpose.

Customer satisfaction is one more important factor which should be measured in order to understand the customers, suppliers, and regulators’ readiness for change according to the developed plan and with the focus on the milestone completion.

The other important aspect is the factor of employee satisfaction which should be monitored in order to create the positive environment for cooperation and sustaining the organisational change.

The main purpose to measure the training effectiveness is the necessity to understand how training can contribute to promoting the change and what approaches should be used to improve the current strategy. The final important category to be examined with the help of the plan is the return on capital investment and profitability.

It is important to conclude about the role of change while focusing on shifts in sales rates, customer satisfaction levels, and warranty rates.

Key IndicatorDescriptionOwnerMeasurement Method & FrequencyReaction TriggerReaction Plan
Stakeholder’s ResponseChange IntegrationStrategic Management TeamSurveys
Monthly
Negative responseChange the implementation strategy;
revise objectives
Acceptance Test Results Answers to FAQsCustomer SatisfactionMarketing TeamSurveys
FAQs
Monthly
Negative on-time milestone completionConduct analysis
Answers to FAQsEmployee SatisfactionHR ManagerFAQs
Monthly
Decrease in satisfactionDevelop strategies to cope with change
Time spent on development Quality and production ratesTraining EffectivenessTraining TeamChecklists
Reports
Monthly
Low quality rates and exam scoresImprove training program
ROI
Profit
Return on Capital Investment & ProfitabilityCost ControllerAccounts
Reports
Quarterly
Low profitsConduct financial analysis

From this perspective, measurement methods, key indicators, frequency, and reaction triggers should be regularly monitored by specialists to control the change in the organisation.

Measuring results of the change integration with the focus on the stakeholders’ response, it is possible to become ready to changing and improving the implementation strategy according to observed results.

Focusing on customer satisfaction, it is important to analyse survey pilots’ results and monitor the customers’ acceptance of change in order to propose further improvements while determining how customers are aware of the organisational shift and associated changes.

It is possible to monitor the employee satisfaction while collecting their answers to FAQs, analysing attrition and absenteeism, and proposing strategies to cope with the change. Furthermore, training effectiveness can be measured with references to monitoring time, quality, and production rates in addition to succession rates and exam scores.

Profitability associated with the implanted change should be monitored with the focus on changes in rates and numbers connected with ROI, assets, fixed and variable costs, and profits.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2019, June 22). Effective Measurement Strategy in Business. https://ivypanda.com/essays/ocp-plan-measure/

Work Cited

"Effective Measurement Strategy in Business." IvyPanda, 22 June 2019, ivypanda.com/essays/ocp-plan-measure/.

References

IvyPanda. (2019) 'Effective Measurement Strategy in Business'. 22 June.

References

IvyPanda. 2019. "Effective Measurement Strategy in Business." June 22, 2019. https://ivypanda.com/essays/ocp-plan-measure/.

1. IvyPanda. "Effective Measurement Strategy in Business." June 22, 2019. https://ivypanda.com/essays/ocp-plan-measure/.


Bibliography


IvyPanda. "Effective Measurement Strategy in Business." June 22, 2019. https://ivypanda.com/essays/ocp-plan-measure/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
1 / 1