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Benchmarking to measure your performance.(selected topic)
Business Credit
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November 01, 2007 |
Callahan, Terry |
COPYRIGHT 2007 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
"Without a standard, there is no logical basis for making a decision or taking action" said Joseph Juran, one of the most important 20th century thinkers in quality management.
As credit executives, you decide what action to take to improve the performance of your areas of responsibility; and you must determine a standard or a goal to achieve. You measure current performance as compared to that standard and take intelligent, consistent actions to eliminate problems and improve performance. But what you measure must be important to both the business and those who are directly and indirectly rewarded by what is being measured. (Another axiom states, "Tell me how I ...
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Source: HighBeam Research, Benchmarking to measure your performance.(selected topic)