Measuring and Evaluating Performance Is Important to Managers

question 73

Essay

Measuring and evaluating performance is important to managers.They need to explore how individual and performance measures and other measures can be combined to create a better tool for measuring past performance and driving the future achievement of strategic goals.
Required:
Define the following terms and give one example of each that you can use in your accounting class.
a.Lagging indicator
b.Leading indicator
c.Nonfinancial measure
d.Benchmarking
e.Best practices

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Definitions:

Freedom House

An independent watchdog organization dedicated to the expansion of freedom and democracy around the world through research, advocacy, and policy engagement.

Mahatma Gandhi

An Indian lawyer, anti-colonial nationalist, and political ethicist who led the campaign for India's independence from British rule through nonviolent resistance.

Hypocritical

Characterized by behavior or a way of life that contradicts what one claims to believe or feel, often involving pretense or duplicity.

Human Rights

The basic rights and freedoms that belong to every person in the world, from birth until death, based on the principle of respect for the individual.