the development of measurement tools
TRANSCRIPT
-
8/9/2019 The Development of Measurement Tools
1/11
The Development of Measurement Tools
Many concepts in business are easy to measure
For example, wages and worker benefit payments,
Its stated in currency amounts like Rupee or Dollars etc and accurate
records are kept. On the other hand to measure concepts as
motivation, sales effectiveness or market potential. They must be
operationally defined by developing a special measurement procedure.
This process involves four steps;
1.Concept Development2.Concept specifications3.Selection of indicators4.Formation of Indexes
1. Concept Development:-
To develop the concept or image of any company or corporation. Think
about
y Reputation among others / various groups.y Involvement with other business groups.y Nature of the involvement.
-
8/9/2019 The Development of Measurement Tools
2/11
2. Concept Specification:-
The second task is to break down the original image into its various
components.
For example the concept of Corporate Image of Shan Foods might be
divided into four parts;
i. The corporate citizen:-How well Shan Food is thought of as a contributor to the
communities in which it has establishments.
ii. Ecological Responsibilities:-How well they dispose of its waste products and protect the
environment.
iii. The employer:-How well Company is regarded as a place in which to work.
iv. The Supplier OfCustomer Needs:-How well their products and services are viewed by customers.
In place of these intuitive approaches, statistical techniques can be
used to determine if these concepts and products are constructs are
part of the image. One such study using customer analysis concluded.
There are six major dimensions of the company image, product
reputation, employer role, customer treatment, corporate leadership,
defense contribution and concern for individuals.
-
8/9/2019 The Development of Measurement Tools
3/11
3. Indicator Selection:-
Once the dimensions have been set, the indicators to measure each
concept must be developed. Since there is seldom a perfect or absolutemeasure. Several possibilities should be considered. Indicators can be
questions, statistical measure or others scoring devices with Shan
Foods measurement of corporate Citizenship could be achieved by
asking a cross section of the public a single question such as
Which of the following best describes the reputation of Shan Food as a
corporate citizen in our community?
(Please check one only)
y The company is leader in these activities.y The company is a strong supporter but not leader in these
activities.
y The company is an average supporter of these activities.y
The company is below an average supporter of these activities.
This question is a single scale index of the companys corporate
citizenship. Single scale indexes are criticized as less reliable then
multiple-factor indexes. One item may not capture the unity of
dimensions that could be included in a term. It is not unusual to find
people thinking of one dimension or another, for example charity
support or political activity. Its more desirable to specify the number of
dimensions to be included in corporate citizenship and then combine
them into a summary index. Assuming index involves constructing
scales to measure each aspect of corporate citizenship
-
8/9/2019 The Development of Measurement Tools
4/11
e-g. Now would you rate the company as a
i. Support of civic fund drives.Very good - Good - Average - Below Avg - Poor
ii. Support of higher education.Very good - Good - Average - Below Avg - Poor
iii. Support of good local government.V
erygood - Good - Average - Below Avg - Poor
iv. Support of civic development projects.
Very good - Good - Average - Below Avg - Poor
5.Formation of Indexes:-
When there are several dimensions of a concept or different measure
for each dimension. It may be desirable to combine them into a single
index. Its reasonable to believe that each individual indicator has only
a probability relation to what we really want to know. Any single
indicator may not be a fair representation of what is being measured.
Use of more than one indicator lords stability to the scores and
improves their validity.
A simple way to improve is to assign scale values to the response and
then combine the scores by combining the four scale items, a single
index is created. Assigning a value to each response, ranging from 1 for
-
8/9/2019 The Development of Measurement Tools
5/11
a poor evaluations to a very good one. Then average scores give a more
reliable measure of the company. Corporate citizenship mage thus does
a single question.
Additional sets of scales can be devised to measure how the company is
viewed on ecological responsibilities and employer image and as a
supporter of consumer needs. These sets of scales could be combined
into summary scores. Finally the summary measures for the four
dimensions of the company image might be again combined and even
weighted to arrive on overall scores that could be called the corporate
image index. This index and its various sub scores might be compared
to indexes of other companies that have been similarly measured.
-
8/9/2019 The Development of Measurement Tools
6/11
Shan Food Industries
Companys Basic Information
CEO Name: Shan
Year Establish: 1963
Company Sale: 10,00,000
Key Products: Masala's, Rice, Pickles, Salt, PlainSpices,
Corn Refiner etc
Industry Focus: Manufacturer Foods
Address: 142, Sector-23 Korangi Industrial Area, KHI
Email: [email protected]
Tel: 021 505 3076
Shan Food's Profile:-
Shan Food Industries, from a humble cottage inception in 1981, has
evolved over two decades into a leading spice company of Pakistan, the
largest exporter of Premium Quality Packaged Spices to USA, Canada,
UK, Germany, Holland, Middle East, Japan, Singapore and Australia. The
very name of Shan has become synonymous for high quality, exotic
flavor and exquisite taste in Mix Spices for oriental cuisine, nurtured
and perfected by discerning food connoisseurs. We at Shan have
developed a specialized skill to recreate those oriental flavors and
-
8/9/2019 The Development of Measurement Tools
7/11
tastes of age-old recipes on a modern plant, and packed them in high
quality packaging materials so as to reach our valued customers like
fresh from farms. The chore of tedious cooking has become an art of
home economics when cooked with Shan Spice Mixes. An elaboraterange of Shan Spices, Spice Mixes, Desserts, Pickles and Aged Basmati
Rice is a household name for those who relish the oriental delicacies.
Our modern factory covering an estimated area of 100,000 sq. ft. is
equipped with latest in-house lab facilities, which scrupulously tests
and analyzes each product right from the ingredient stage to finished
form. At Shan, immaculate quality is a passion and buyers' satisfaction
is abiding commitment to our valued customer.
Products and consuming Industries:-
Shan Food produces high quality food ingredients and industrial
products. All these products have leading market position and are being
used in more than 50 different type of industries as essential raw
material from local resources. Major consuming include paper,
corrugation, confectionery, pharmaceuticals, chemicals, banking,
beverages, ice cream, processed foods, tobacco, foundry, syrups and
squashes, poultry and cattle feeds, fish feeds and so many other food
and nonfood industries. The company has expanded and modernized
modified production plants.
-
8/9/2019 The Development of Measurement Tools
8/11
Quality of Products:-
Shan Foods products are manufactured under strict quality control to
match the international standards. They have won the preferredsupplier status among customer by focusing on quality, customer
service and team approach.
Distinctions:-
y Ranked one of the top 26companies listed on (KSE) in 1998 to2004.
y Corporate Excellence certificate from Management Association ofPakistan in 2001 to 2004.
y Ranked one of top 10 organizations for best practices in OSHE byEFP in 2001.
y Best presented accounts award from ICAP and ICMAP in 2002,2003 and 2005.
y Pak EPA awards for participation in smart Program in 2003.y FPCCA export trophy in 2000, 2001, 2002 & 2003.
-
8/9/2019 The Development of Measurement Tools
9/11
The development of measurement tools is very common in the
organization. For example, in order to measure performance of an
employee following procedure is adopted.
Performance & Development Review
1.Persona informationi. Nameii. Designationiii. Salary Gradeiv. Departmentv. Qualificationvi. Number of years in current position
2.Special AchievementsDetail of achievements and accomplishments is mentioned under this
topic.
-
8/9/2019 The Development of Measurement Tools
10/11
3.Performance Dimensions_____________________________________1_2_3_4_5
i. Work OutputVolume of work as compared with required
standards and consistency of output.
ii. Quality Of WorksThoroughness, accuracy and excellence of
work.
iii. Job KnowledgeDemonstrated technical professional expertise,
awareness of latest development in functional
discipline, familiarity with systems, policies and
procedures.
iv. Decision MakingDemonstrated ability to analyze relevant infor-
mation, think of and evaluate alternative and
arrive at timely and workable decisions.
-
8/9/2019 The Development of Measurement Tools
11/11
v. Time ManagementSelf discipline in attendance, punctuality and
timely completion of assignments.
vi. Communication SkillsClarity and precision of verbal and written
communication, readiness to share relevant
information with appropriate person, willing-
ness to listen to others view point.
vii. Human RelationsAbility to get along well with people, colleag-
ues and customers.