Performance Analysis

How do I measure success?

'The family farm is a complex business due to the intimate interaction between business and lifestyle goals. It is important to select and monitor a group of relevant, or key performance indicators (KPIs) that can be used to measure how well the business is performing. Performance indicators must link to the goals of the farm business. No one measure can be used to assess how well the business has achieved it's various, and sometimes conflicting, goals.’(Shadbolt N.M. and Rawlings K.M.) This paper aims to identify whether dairy farmers have adequate performance indicators to measure progress towards goals and to explore how well dairy farmers formally or systematically resolve and manage goal conflict by testing their goals against a ‘balanced scorecard' framework (below) adapted from business literature.