I will pay for the following article There are limitations, but financial and management accounting perform a fundamental role in the measurement of performance wit. The work is to be 12 pages with three to five sources, with in-text citations and a reference page. In this context, the performance measurement has been characterized as an activity of key value for organizations in different industrial sectors. The specific issue is examined in this paper. emphasis is given on the role of the financial and management accounting in performance measurement, as a key part of strategic decision process in modern organizations. It is concluded that both financial and management accounting are quite important for the successful development of performance measurement schemes – even if, in certain cases, the involvement of financial and management accounting in performance measurement causes delays in the completion of the relevant processes – under the terms presented below. Because of the above problem, a series of recommendations has been included in this study aiming to support the improvement of performance measurement systems. 2. Performance measurement in organizations 2.1 Performance measurement – description, role The use of performance measurement in modern organizations has been related to the achievement of specific organizational targets. Most commonly, the performance measurement is used a firm’s managers in order to evaluate whether the organizational activities manage to achieve a particular level of performance – as set by the planners of these activities. In this way, it will be possible to estimate if these activities have paid back the investment made on them or not. In practice, the performance measurement – as one of the firm’s key strategic processes – can be quite complex. This fact is reflected in the theories developed in the particular field – referring to the content, the role and the phases of performance measurement in modern organizations. At a first level, certain differentiations can be identified in the criteria used by theorists when having to define the performance measurement. however, a close examination of their views would lead to the assumption that they all emphasize on the value of performance measurement as a tool for estimating the achievement of organizational goals – including the risks involved. In accordance with Hatry (2006) the performance measurement can be defined as the ‘regular measurement of the results (outcomes) and efficiency of services or programs’ (Hatry 2006, p3). On the other hand, Meyer (2003) notes that the term ‘performance measurement’ can be explained using two different definitions: the dictionary definition, which focuses on the past, i.e. on the performance of the organization up to the time point when its performance is measured and the economic definition, which refers rather to the future, emphasizing on ‘the measurement of the shareholder value into the firm’ (Meyer 2003, p20). It is further explained that in the context of the dictionary definition ‘performance is measured by operational measures or current financial results’ (Meyer 2003, p20). on the other hand, the economic definition is based on the measurement of performance ‘using share prices’ (Meyer 2003, p20). Another definition of performance measurement is mentioned in the study of Harbour (1997). in the above study reference is made to the performance measurement as a method for ‘measuring work accomplishments and output’ (Harbour 1997, p7). At the next level, Epstein et al.

Your assignment is to prepare and submit a paper on supporting organizational strategies. Introduction Globalization and liberalization in recent years has resulted in the need of enhance international competitiveness in organizations and has been the driving force behind the strong emphasis on human resources development and training. There is the increasing need for a highly flexible and adaptable workforce to meet the challenges of new technology and increased competition (Jeffrey, 1994).

Extensive training and skill development has been realised to facilitate not only economic recovery in times of crisis in an economic systems, but also in improved performance for firms. According to a survey conducted by New Zealand’s Business NZ and the Industry Training Federation in 2003 (Jeremy et al, 2003), 55% responding firms indicated that the need to continue to provide training, or begin providing training, within the enterprise depends on shortage of skilled workers and if suitable courses to meet such training needs were available. Other important drivers for training were identified as customer requirements (49%), a desire to growth within the enterprise (48%), skill shortages in the industry (where these exist) (48%), and actual growth in the enterprise (47%). All in all, it was realized that firms involved in training and skill development gained much from the training.

When firms take on extensive training and skill development, there is that tendency that quality of output will improve. Employees who have gone through such training learn new ways of production and ameliorate their ideas of the whole production process.

Looking at theories of motivation, employee motivation leads to survival and positive productivity within the firm (Smith, 1994). It is absolutely important for managers to understand what makes employees motivated, because employee motivating factors are complex and change everyday (Bowen and Radhakrishna, 1991). Therefore, just that aspect of recognition within the industry to undergo training and skill development to some employees is a motivating factor (Vroom, 1964).

When employees are motivated, there is increase in productivity and consequently growth in the business. Therefore through skill development and training programs, there is obviously employee motivation and increase knowledge in knew production skills and consequently, business growth.

When employees gain new skills, there is considerable positive effect on health and safety of the enterprises. This is because, when new skills are gained, the company stands a better competitive place on the market with her competitors due to increase productivity and quality products.

Extensive skill development and training provided a positive effect for the firm to be able to retain staff. There is some stability on staff within the company as those who have undergone training feel being recognized as part of the enterprise and prefer staying on the spot. We should remember here that, money is not the sole factor that may keep employees loyalty to one enterprise, but that aspect of self esteem (Herzberg, Mausner, & Snyderman, 1959).

Innovation within the firm is increased due to training and skill development. Employees become more committed especially when they are assigned tasks to perform within the enterprise and they obviously take these tasks seriously (Lindner, 1998).

A positive profitability for the firm is created as the enterprise has in place skilled workers who have obviously increased productivity and quality output. In this instance, since the enterprise can meet competition, sales will obviously increase

Cost of production will be positively affected by such training and skill development. In such situations, there is some reduction on production costs and wastes are minimized.

References

Bowen, B. E., & Radhakrishna, R. B. (1991). Job satisfaction of agricultural education faculty: A constant phenomena. Journal of Agricultural Education, 32 (2). 16-22.

Herzberg, F., Mausner, B., & Snyderman, B. B. (1959). The motivation to work. New York: John Wiley & Sons.

James R. Lindner (1998). Understanding employee motivation. Journal of Extension 36(3)

Jeffrey Pfeffer (1994). Competitive advantage through people. Unleashing the power of the work force. Harvard Business School Press.

Jeremy Baker, Stephen Summers, Carrie Murdoch, (June 2003). Report of the Business NZ Skill and Training Survey 2003

Smith, G. P. (1994). Motivation. In W. Tracey (ed.), Human resources management and development handbook (2nd ed.).

Vroom, V. H. (1964). Work and motivation. New York: Wiley.