Organisations exist to attain certain goals and objectives through unified team efforts of management and executives. Performance of a business or a company is an amalgam of various activities performed by it in different areas of operations. While appraising or assessing the performance of the company, fair evaluation should be made regarding the efficiency and effectiveness of the concern in these areas of operations. The important areas of performance appraisal include: production, cost trends and sales, profitability, funds management, financial strength, working capital, value added, fixed assets, social performance, liquidity and productivity.