What are gauging tools comprised in annual plan control?
Annual plan control consists of at least five performance gauging tools as illustrated below in points:
a) Sales analysis comparing its sales targets to actual sales as well as accounting for discrepancies.
b) Market share analysis comparing the countries sales along with such of its competitors. The country must also compare its own sales to net sales into the global market and to sales into its “market segment” neighbouring countries as well as countries that share its political ambience and same size countries so more.
c) Expense to sales analysis exhibits the range of costs both explicit cost and hidden implicit cost of achieving the countries sales objectives.
d) Financial analysis computes various performance ratios as like profits to sales profit margin, profits to assets return onto assets, sales to assets asset return, assets to worth financial leverage, and, at last, profits to worth return onto net worth of infrastructure.
e) Customer satisfaction is the eventual indicator of tracking goal attainment. The country must actively seek, make easy and encourage feedback, both negative and positive by creating friendly and ubiquitous complaint and idea systems. Customer loyalty and frequent satisfaction surveys must form an integral part of any marketing drive.