Why Is It Important That Objectives Are Measurable

question 35

Multiple Choice

Why is it important that objectives are measurable?

• A) Reward systems depend on meeting targets so it is vital that measurements are taken so that performance- related pay and bonuses can be calculated.
• B) Strategy is best evaluated using quantitative data so measurements must be taken.
• C) Controlling strategy implementation and evaluating the outcomes of a strategy depend on being able to measure organisational performance against targets.
• D) All of the key measures of business performance are financial and so setting financial targets is vital.

Recognize how context influences perception and the ease of recognizing letters within words.

Explain the distinction between problems of visual interpretation and problems related to vision or language.

Understand the concept and significance of self-related processes and motivation in shaping human behavior.

Recognize the role of cognitive dissonance and its mechanisms in decision-making and belief changes.

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Definitions:

Markup

The difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.

Physical Inventory

A method of inventory valuation that involves physically counting all the inventory items at a specific point in time to determine their total value.

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity available to fund its day-to-day operations.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.