Is There A Better Way Than Efficiency Rankings To Measure Performance?

Is There A Better Way Than Efficiency Rankings To Measure Performance?

For decades, governments, banks, hospitals, and schools have leaned on efficiency rankings to determine who is performing well and who is falling short. Yet many of these measures are badly flawed, argues new research from the University of Surrey, because they ignore both the passage of time and the impact of shocks such as recessions or pandemics. The researchers have devised a fresh method—Time Envelopment Analysis (TEA)—to reveal how organis…