Assume you are the manager of a store located in Manhattan that sells high-end c

Question

Assume you are the manager of a store located in Manhattan that sells high-end clothing for men and women.

You have been asked by the owner to develop a new business performance management system. What factors would you consider to develop an effective business performance management system? Which KPIs and operational metrics would you recommend?

The store has experienced a decline in sales over the last few months. As the manager, you want to develop a brief online survey to measure the level of customer satisfaction. What would be the different dimensions of the construct of customer satisfaction in the context of your store?

Explanation / Answer

Variables to build up a compelling business execution administration framework

Many years of research and practice have been committed to understanding and enhancing execution administration in associations. Yet the customary execution survey procedure keeps on being excruciating and ineffectual for both directors and workers. For some organizations, the emphasis on enhancing formal frameworks has not accomplished the wanted results. Indeed, research demonstrates that what genuinely expands worker execution and engagement is not yearly audits, but rather the everyday procedure of chiefs imparting desires, giving criticism, and utilizing representative abilities. It's the ideal opportunity for a crisp take a gander at execution administration.

As generation change, the needs and values incorporated into an execution audit procedure might likewise change. Hence, pioneers must alter their idea of execution surveys to guarantee they catch what is esteemed by the new eras of laborers and particularly an attention on:

Q. Motivation and learning.

Q. Coaching and Mentoring.

Q. Effective techniques for recognition.

Q. Effective techniques for communication.

Despite the fact that these ranges have been installed inside of the customary style of execution surveys, an emphasis on these four segments for the cutting edge's workforce guarantees that the human asset capacity stays pertinent and keeps on being a creative, fruitful pioneer in worker strengthening

KPI prescribed to quantify adequacy of Performance Management :

1.Attrition rate

2.Retention of HiPo - High Potential Performers

3.Transfer of Learning

4.Productivity Index

5.Retention rate

To make a study with a specific end goal to gage consumer loyalty , it ought to consider the accompanying elements and manufacture the study

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