EuroVille Recipes: Monitor and Manage Performance Report (BSBMGT617)

This report, focusing on the performance of EuroVille Recipes, analyzes performance reports against planned business objectives through the testing and refinement of the performance measurement system. It outlines key performance objectives, including establishing a national brand and increasing market presence. The report details performance measurement systems, including self-evaluation, 360-degree evaluations, and checklist methods, and explores the importance of skilled staff and resource allocation. It also examines refinement of key parameters, measurement of performance, and key aspects of the performance measurement system. Furthermore, the report addresses system and product failures, and methods to measure, analyze, and control business processes, providing a comprehensive overview of performance management within a business context. The report concludes by emphasizing the importance of performance measurement in effective business plan implementation.

RUNNING HEAD: Monitor and Manage Performance 1
Monitor and Manage Performance
(Student’s details)

Monitor and Manage Performance 2
Executive Summary
The following report is a performance report which described about how to analyze performance
reports against planned business objectives by testing and refining of the performance
measurement system. The main objectives of creating this report are:
 Refine the key parameters of business
 Describe the process of evaluate performance measurement system
 Reasons of system and product failures
 Evaluate the financial and non-financial performance

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Contents
Introduction.................................................................................................................................................4
Key performance objectives of new restaurant........................................................................................4
Performance measurement system...............................................................................................................4
Self-evaluation method............................................................................................................................5
360 degree performance evaluation.........................................................................................................5
Scale of Performance...............................................................................................................................5
Checklist method of evaluation...............................................................................................................5
Review of basic incidents........................................................................................................................6
Monitor the Performance.............................................................................................................................6
Refinement of key parameters.................................................................................................................6
Measurement of performance..................................................................................................................6
Key aspects of performance measurement system.......................................................................................7
System Failures.......................................................................................................................................7
Product failures........................................................................................................................................7
Measure the method or process...............................................................................................................8
Analyze the opportunities........................................................................................................................8
Control the process..................................................................................................................................8
Process mapping......................................................................................................................................8
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10

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Introduction
Create a business plan and implement a business plan is two different things. Business plan
includes all the data related to business such as mission, vision and objective of business,
products and services, market analysis, marketing activities, sales strategy, business operations,
management and organizational structure, financial background and risk analysis. To achieve the
objective of business, it is very important to follow all the things which are included in business
plan.
The following report will describe that how to analyze performance report against planned
business objectives through testing and refining of the performance measurement system. With
this report, EuroVille Recipes will know whether they are able to achieve their Objectives or not.
If not, then what is the reason behind it? It can help EuroVille Recipes to know about their
condition.
Key performance objectives of new restaurant
 Recognize as a national brand
 Position EuroVille Recipes as high quality and delicious continental food provider
 Increase foot traffic
 Establish good target market
 Increase brand recognition
The main and most important objective of new restaurant is establish as a premier national brand
across Australia and make their presence in all the 7 states and regions of Australian in coming 5
to 10 years. To achieve this objective, the restaurant should take care of every small thing such
as location, food taste, décor of restaurant, services and many more.
Performance measurement system
Performance measurement is a new management instrument that helps the company to know
about performance of business. Companies follow many types of methods to evaluate the
performance of business. Staff or employees are the key factor which can impact the
performance of business. When a company uses many methods of evaluation then company will

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be able to get where company needs improvement and how can company improve the
performance.
The way to understanding business execution is to initially pick up a comprehension of how the
association estimates generally execution, that is, the entirety of final products for a time of the
majority of the association's exercises. There is a scope of execution measures and kinds of
control that associations may utilize (Bourne & Neely, 2010).
Self-evaluation method
This is first and very effective method to evaluate the performance. An individual or employee
knows about his strengths and weaknesses. In this process, company can provide a simple
objective type questions answer form to employee from that employee review his own
performance.
360 degree performance evaluation
The development of any department is depending on the performance of employee and its
effectiveness shows when an employee interacts with other employees of company. In this
method, the performance of an employee is evaluated by the manager, when head of the
department receive the inputs from other departments (Markovic, et al., 2010).
Scale of Performance
This is another method to evaluate the performance of an employee. In this method, managers
use the table or graph to mark the performance of workers. This method mainly based on
realistic size of execution. This execution is usually utilized by the managers, in which the
workers performance exhibit in different ways of their job activity and duty reviewed on a scale.
Checklist method of evaluation
In this method, managers give a form of checklist type to employees which have many question
related to official work with the option of yes or no. This assessment technique is very simple
and effective. With this type of evaluation, managers get to know about that employee needs
training or not (yandrasevich, 2011).

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Review of basic incidents
In this strategy, managers collect all the good and bad performed activities of employee of one
year and evaluate those performances, which are called review of basic incidents.
Monitor the Performance
After making a business plan, it should be communicated with the employees to implement the
business plan in a right way and required resources should be setup for execute the plan.
Restaurant may need to select and recruit new staff to fulfill the specialized activities if the
existing staff and employees are not skilled. Skilled staff is very important in a restaurant to cook
tasty food and serve food in a skilled and expert way. Selection and recruitment of new
employees managed under the different policies and procedures of company. For example,
Customers want some new dishes in menu but restaurant has very little staff and because of this
reason, restaurant is not able to fulfill the requirements of customers which may impact the sales
of restaurant. Eradicate this problem, now restaurant needs skilled staffs that are experts in
making new dishes and cooking very well ( Daft & Marcic, 2008).
Refinement of key parameters
For the most of part, refinements must be required for modifying the market from which
restaurant may get better survey execution or gather more extensive information. Additional
refinements might be involved:
 Build a new composed procedure for ensuring the intermediate information is précised.
 Higher skill level should be available in staff members.
 Moving the measure; for instance, the association may have just estimated net revenues,
yet following testing, a cost-volume-benefit investigation is better proportion of
execution.
 To analyze the data, use finance software and refining the management is better capture.
Measurement of performance
Productivity to live the general result of products or services that is split by the all input cost.
 With the sales revenue, output is measured.

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 Input is the cost which is used for the resources to make output of products and it is
measured by the calculating the total cost.
 To expand apportion of outputs to inputs, profitability should be expanded.
Many of the organization, measure their performance to compare with other organizations which
are from same industry. From this measurement, organizational effectiveness, that could be
measure by the relevancy of strategic goals and objectives. Balance scorecard is the common
method to incorporate measures of cost and effectiveness (Starr, 2017).
Key aspects of performance measurement system
Organization should be following some steps to evaluate the daily performance of employees
which are mainly:
 Daily report of all the major factors related to business operations such as, how everyone
is performing in business and many more.
 Daily check the performance of employees to achieve the business objective.
 Review the methods of work for the constant improvement process.
 Review all the business operations including productivity and performance targets
 Measure the financial and non-financial performance
System Failures
Here is a listing of common reasons behind failures of systems:
 Developers neglecting to test for mistakes during the plan procedure.
 Poor plan prompting client issues whereby clients discover segments as well complex, or
parts of the framework don't meet necessities; for instance, the execution is being
estimated utilizing an inappropriate kind of tools.
 Insufficient or wrong preparing in working with or utilizing portions of the framework.
 An inappropriate or broken apparatus or gear influencing the capacity to perform
undertakings.
Product failures
Here is a listing of common reasons behind failures of products:

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 Changes in client buying, which might be the aftereffect of issues with item quality, cost
or poor administration, or because of changes in the outside condition, for example,
increments in loan fees lessening the dispensable salaries of clients.
 Increments in the expense of imported materials because of an abrupt drop in the
estimation of the Australian dollar
 Generation gear shortcomings driving in deferrals of the item to advertise
 The objective market is excessively restricted, a consequence of poor examination and
division
 The nature of the item is poor because of framework issues
Measure the method or process
In this method, company collects the data to measure the evaluation of success of business. This
method is beginning with the checking clients, and employee’s feedback, via surveys for all the
relevant data. Main techniques which are involved in measuring are charts, graphs and data
analysis.
Analyze the opportunities
This step performs for analyze the reason of the performance issues that need special attention.
The process map ought to be identifying clearly that what is the actual reason behind the
problem. A complete reason analysis will perceive the probable causes.
Control the process
Controlling the procedure implies that measures are set up to guarantee the enhancements are
connected reliably and give the recognized outcomes. This may incorporate execution measures;
approaches, methodology, benchmarks and rules that mirror the enhancements; preparing of staff
in the changes; and customary checking and assessment. The main tools and techniques of the
control are project planning and PDCA cycle.
Process mapping
Process mapping is an easy method of flowchart. This process will map the every stage of
present process, which taken by each and every task. Then business examines the map to expose
where enhancement may be done to boom efficiency and decrease waste of resources and time.

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Conclusion
Companies follow many types of methods to evaluate the performance of business. Staff or
employees are the key factor which can impact the performance of business. There are many
steps which are followed by the company to evaluate the business performance that are mainly
measure the process, control the process, map of process, reasons of products and system failures
and many more.
In this report, it can be concluded that measurement of performance is an important step to
implement the business plan effectively.

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References
Daft, R. & Marcic, D., 2008. Understanding Management. Boston: Cengage Learning.
Bourne, M. & Neely, A., 2010. Implementing performance measurement systems: a literature
review. Business Performance Management, 5(1).
Markovic, S., Raspor, S. & Segaric, K., 2010. DOES RESTAURANT PERFORMANCE MEET
CUSTOMERS’ EXPECTATIONS? AN ASSESSMENT OF RESTAURANT SERVICE
QUALITY USING A MODIFIED DINESERV APPROACH. Tourism and Hospitality
Management, 16(2), pp. 181-195.
Starr, M. K., 2017. The Routledge Companion to Production and Operations Management.
Abingdon: Taylor & Francis.
yandrasevich, S., 2011. University of Nevada, Las Vegas. Controlling Labor Costs in Restaurant
Management: A Review of the Internal-Marketing Concept as a Method for Enhancing
Operating Efficiency.