Profit Planning - A Key to Performance Improvement
Most companies today use ratio comparatives to discover strengths and weaknesses. However, these are only tools to measure performance, not remedies to financial problems. It is the use to which you put these ratios that will determine their real value.
In addition to the participation and cooperation on the part of the various managers who exercise control over their revenue or cost areas, the company’s annual budget process should give considerable attention to setting company norms that are at least equal to those prevailing in the industry. These standards are found in the annual ASA Operating Performance Report.
Companies that participate in ASA’s Operating Performance Report receive details of survey results in primary business segments in all the PHCP and PVF industries. Within each segment, data is shown for all participating firms, as well as by sales volume size, and a special analysis that focuses on high profit firms is included. Each report also includes a 20-year trend report for each business segment. Participation is now open for the 2010 ASA Operating Performance Report. Please contact Chris Murin at 312.464.0090 ext.204 or firstname.lastname@example.org for more information, and watch your email for an invitation to participate.