Table of Contents
What is an example of a non-financial objective?
Non-financial objectives, such as those revolving around customer loyalty, employee welfare, labor productivity and production volume also matter. These factors have a direct impact on your company’s performance and revenue.
What are the 5 types of non-financial objectives?
Reaching key non-financial goals improves the company’s chances of achieving important financial targets such as revenue and profitability.
- Customer Satisfaction.
- Planning and Reporting Systems.
- Employee Training and Development.
- Long-Range Vision.
- Policies and Procedures.
- Community Involvement.
Why are non-financial objectives important?
Setting of business goals and objectives is integral to the success of any business. Non-financial company objectives also play an important role in improving the overall performance and turnover. These goals help even out a business’s strengths in areas like production quality, customer and employee satisfaction etc.
What are the objectives of non-financial incentives?
The use of non-financial incentives in organizations serves to motivate employees towards workplace performance. Organizations can only function with a motivated workforce who ensures efficiency, high organizational output and prosperity of the organization.
What are examples of non-financial resources?
Non-financial assets are recorded on the balance sheet, and they are considered when determining the value of a company. They can be tangible assets such as machinery, real estate, and motor vehicles, or intangible assets such as patents, purchased goodwill, and intellectual property.
What are examples of non-financial costs?
6 Non-Financial Cost-Benefit Analysis
- maintenance costs;
- pollution from exhaust fumes and dirt;
- water pollution from a mixture of rain and rubber, heavy metals and so on, which accumulate on the road through use, as the mixture runs off into ditches and fields;
- noise;
- loss of green fields;
What are examples of non-financial institutions?
Examples of nonbank financial institutions include insurance firms, venture capitalists, currency exchanges, some microloan organizations, and pawn shops. These non-bank financial institutions provide services that are not necessarily suited to banks, serve as competition to banks, and specialize in sectors or groups.
Is personal satisfaction a non-financial objective?
Non-financial aims and objectives are linked to anything other than making money for the business. Personal satisfaction relates to an entrepreneur feeling satisfaction that they have created a successful business. It may be that an entrepreneur is able to make a business out of a hobby or personal interest.
What are examples of non-financial rewards?
Types of Non-financial Incentives
| Recognition | Reward |
|---|---|
| 1. Award presentation in front of peers | 1. Vouchers |
| 2. Dinner with CEO | 2. Prizes |
| 3. Enhanced decision making | 3. Gift cards |
| 4. New office or upgraded work space | 4. Paid parking or transit pass |
What is a non-financial?
Definition of nonfinancial : not of or relating to finance or financiers : not financial rarely argued about nonfinancial matters For the first time in eight years, the balance sheets of nonfinancial corporations will end the year with more equity relative to debt than they had when the year started.—