Planning and Measuring Performance

In: Business and Management

Submitted By shastinsmom
Words 790
Pages 4
Planning and Measuring Performance
Brandi Charette
MGT 521
February 11, 2013
Linda Kulka

Planning and Measuring Performance Fannie Mae is a lending company who has been providing mortgage lending options to working families for over 70 years. Their mission is to “ensure that working families have access to mortgage credit to buy homes they can afford over the long term or that they can secure quality rental housing” (Fannie Mae, 2013). Strategic and operational plans help an organization plan out their goals and how they are going to achieve those goals. The main objectives of strategic plans are to look at the vision of the organization and their priorities in regards to an evolving environment and to make sure that the organization’s members are aiming for the same goals. Operational planning is outlining the day-to-day activities of the company. Both of these need to compliment each other in order for the organization to be successful. One of the strategic goals is to demonstrate shareholder value. Fannie Mae can demonstrate this by showing that they are creating revenues that are above all costs. They are “one out of three companies to have produced double-digit growth in operating earnings per share in each of the last 15 years” (Fannie Mae, 2013). A standard for this goal would be maintaining a clear profit yearly without extending the budget. Financial controls would be in order to monitor the financial well being and activities throughout the year. Another goal is to deepen and broaden business. A standard for this goal would be to compare themselves to other leading lending companies. They would do this by benchmarking both competitors and non-competitors. By benchmarking other companies, they will learn how to better monitor and measure their organizational performance. If they can figure out what performance gaps exist…...

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