What are the non-financial performance measures?
Typical non-financial KPIs include measures that relate to customer relationships, employees, operations, quality, cycle-time, and the organisation’s supply chain or its pipeline. Operational measures are also important – they can be termed as just ‘performance indicators’, or ‘PIs’, to distinguish them from KPIs.
What are examples of non-financial performance controls?
Examples of Nonfinancial Performance Controls
- Human Resources. Employee satisfaction. Average tenure.
- Marketing. New products launched. Customer satisfaction.
- Production. Number of defects.
- Purchasing. New products introduced by suppliers.
- Research and Development. New patents.
- Customer Service. Average complaint response time.
What are non-financial key performance indicators?
Non-financial KPIs, also referred to as the intellectual capital of an organisation, include the knowledge, skills, brands, corporate reputation, relationships, information and data, as well as patents, processes, trust or an innovative organisational culture.
What are the non-financial performance measures as per balanced scorecard?
The last three perspectives tend to include nonfinancial measures, such as hours of employee training or number of customer complaints, to evaluate performance. The goal is to link financial and nonfinancial measures to the company’s strategies and goals.
What are some examples of non-financial resources?
A nonfinancial asset is determined by the value of its physical traits and includes items such as real estate and factory equipment. Intellectual property, such as patents, are also considered nonfinancial assets. Nonfinancial assets play an important role in determining a company’s market value and ability to borrow.
What are non-financial objectives?
Non-financial objectives relate to the employee satisfaction, customer satisfaction, corporate social responsibility and so on. These objectives are likely to increase the company’s goodwill, which involves the reputation of a business and is listed as a quantifiable asset in the balance sheet.
How do you measure non-financial performance of a company?
Common financial metrics include earnings, profit margin, average order value, and return on assets. Outcome-based measures such as customer satisfaction, market share, category ownership, and new product adoption rate fall into the non-financial metrics.
Are not financial asset?
Non-financial assets are recorded on the balance sheet, and they are considered when determining the value of a company. They can be tangible assets such as machinery, real estate, and motor vehicles, or intangible assets such as patents, purchased goodwill, and intellectual property.
Is housing a non financial asset?
Non financial examples may include land, buildings, and equipment, as well as patents and other intellectual properties.