Question

What are the three different aspects of measurement? Explain.

Next, identify at least four intangibles, preferably from your job, that seem difficult or impossible to measure. Evaluate each of these intangibles using the aspects of measurement; concept, object and method, described in Chapter 3.

Answer 1

The three aspects of measurement are descriptive, diagnostic and predictive.

Descriptive is the most basic form of measurement. It’s just a comparison with others at a point of time. It helps us rank the objects in the order of their achievements

The next measure is the diagnostic measure which as the name suggests helps us "Diagnose" a problem. Its helps us understand how something happened and what is the path it took to its current state or form.

The last type of measurement is the predictive measurement where in you take decision based on what the descriptive and the diagnostic measurements have revealed. Basically you look at the past data and predict how something should behave in the future.

The four intangibles that I can relate to be job are:

1. Knowledge of an individual: The knowledge of an individual is very difficult to measure in quantitative figures. You can use your prior work experience with him or her to identify his/her strengths and weaknesses.

2. Brand name of the business: The brand name of the business is very difficult to measure in numbers as with the first. The brand image of the businesses often goes in line with the chosen brand ambassador. For example, Accenture had Tiger Woods as their brand ambassador and when his image took beating, Accenture has to undo a lot of brand damage.

3. Overall work life balance: Another important aspect is the work life balance of the employees of the organization. Although you can make questionnaires to ask employees about work life, most employees are at extremes. So its very difficult to objectify the work life balance

4. Top management abilities: Another important aspect is who the person at the top or the team of top management. Do they have the ability to turnaround the business in times of recession and take decisions that help the business on the long run.