Application of a Performance Barometer on a Small Scale Veterinary Practice (Published)
Performance barometers that depict the performance of certain food and agriculture-related activities has been developed and implemented wherein relevant indicators are selected and weighted according to their importance. The current paper hypothesized the applicability and suitability of the performance barometers to a small scale veterinary practise as a model for a business enterprise. Performance indicators were developed, and results were assigned retrospectively from the business data base. Weights were assigned to the developed indicators and a business barometer was developed using the relevant methodologies. The findings of the paper strongly support the hypothesis that a performance barometer could easily and successfully be used to portray the results of any business following the prioritization and weighting methodology of the key performance indicators. A business barometer is a facet that easily and clearly illustrates the attributes of increase and/or decrease of the performance of an enterprise without the need of referral to other documents
Keywords: Balanced Scorecard., Business Barometer, Performance Indicator, Performance Management.