Examine performance measures for a hospital and also for an electrical retailer. From this I will look at a few companies from each and write about what type of performance measures they use and whether their management priorities. Management Courses Performance Management For this assignment I was assigned to review performance measures for a hospital and also an electrical retailer. From this I will look at a few companies from each and write about what kind of performance measures they use and whether their management priorities should lie elsewhere or not. Hospitals Performance Measures for Finance Finance is an important part of running a hospital. As much as a company or hospital wants to make a profit and expand, it also doesn't want to be overfunded. The government can take some of that money to fund other hospitals. Therefore, running a hospital employs a different management strategy than any other business when it comes to finances. Hampstead Royal Free Hospital is located in North London and serves around half a million patients a year. A good indicator of the financial performance of the Royal Free Hospital is profitability. Royal Free employs 4,500 people and has an annual turnover of £260m. This shows us that Hampstead is not targeting too large an area for patients (north Camden, south Barnet and west Haringey). But it can also be seen in another way. If they have an annual turnover of £260 million, perhaps they should service an even larger area, or develop more specialized equipment, etc... According to NHSratings, The Royal Free underperformed on financial management. As a hospital, they submit their financial support every year, but this was not in line with the objectives of the NHS plan. This may be because they received too much money without returning it to the hospital. Reputation and market position is another, but this is related to the "NHS plan" through NHS ratings. It is tied to the previous year's ranking and the financial stability of the hospital as a whole. In RoyalFree's strategic framework and objectives, nothing is mentioned with finances. But I feel like some of their priorities should change. With such a high turnover, I think Royal Free should consistently invest more than... half the paper... it's financially sustainable, it's good for brand awareness and availability. ++Bibliography- Management Notes UCL Lectures- Business Studies Notes Christ's College 6th form- Introduction to Management 3rd Edition by Richard Pettinger (chapters 3 and 4)Websites- http://www.nhs.uk/england/ default.aspx- http://www.royalfree.org.uk/aboutus.asp?page=trustaims.htm- http://www.argos.co.uk/static/StaticDisplay/includeName/AboutArgos.jsp.htm- http://www .tesco.com/corporateinfo/- http://dsgportal01.dixons.co.uk/wps/portal/dixonsURL- http://www.royalfree.org.uk/aboutus.asp?page=siteinfo .htm- http: //www.nhs.uk/england/hospitals/showhospital.aspx?id=RV8E2 EdgwareRating via NHS England - http://www.nhs.uk/england/authoritiestrusts/acute/starrating.aspx?orgcode =RAL&type=Acute% Free 20TrustRoyal rating (2 stars) - http://www.nhs.uk/england/authoritiestrusts/acute/starrating.aspx?orgcode=RVL&type=Acute%20TrustBarnet General Hospital rating (0 stars) - http: //www.bcf.nhs.uk/aboutthetrust/index.asp Barnet General Hospital - http://www.bcf.nhs.uk/aboutthetrust/facts.asp facts about Barnet General