Performance measures Analyze the following situation: Imagine that you have been
ID: 1153102 • Letter: P
Question
Performance measures
Analyze the following situation:
Imagine that you have been appointed as general manager of a multinational company. As part of your appointment, you have been asked to evaluate the level of compliance of the company. As a first step, when verifying operations, you found that the company lacked the necessary controls to achieve its objectives.
Evaluates the performance measures that need to be implemented to ensure the proper functioning of the company's operations. You must consider the aspects:
Financial
Quality
Human Resources
Explanation / Answer
The audit of the compliance levels of a company must be undertaken on a regular basis to ensure that the company conforms to all requiremements. On the basis of this the company will be certified as compliant or not. The standards followed here would be the ISO standards that allow the due diligence to ensure that the company functions properly. In case of financial requirements, the standards laid down by the GAAP of that company in various countries should be followed so that the practices are met. In case of quality the ISO standards of quality must be met and this will be issued by various auditing authorities to ensure that various safety measures are met, proper transportation rules are followed and met etc. There are ISO standards of audit and compliance that are covered for all these aspects and periodic audits will be needed to ensure that these are met. In case of human resources the aim should be that the hiring and firing of employees are done as per proper standards and requirements so that no lawsuits are filed against the company. These will also require periodic audits to ensure compliance.