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Setting Performance Targets by Carolyn Stringer

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Chapter 6

Multiple Performance Targets

You must have long-range goals to keep you from being frustrated by short-range failures.

—Charles C. Noble

Introduction

A long-term view of the business is important in target setting. To lose sight of your long-term strategy can result in short-term actions. No single key performance indicator (KPI) captures all the elements of performance, so use a combination of performance targets that balance the short- and long-term priorities. Karen is a CEO of a company that has focused on financial performance measures in the past but has decided to use multiple performance measures. How many targets should she use? She wonders how to make trade-offs between short- and long-term targets? What are some of the ...

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