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

---

Definitions:

Logical Arguments

A sequence of statements or reasons made to demonstrate a proposition's truth, grounded in principles of sound reasoning and critical thinking.

Situational Attribution

Refers to the process of explaining someone's behavior based on external factors or circumstances rather than on internal characteristics.

Attitude

Feelings, often influenced by our beliefs, that predispose us to respond in a particular way to objects, people, and events.

Foot-In-The-Door

A persuasive technique involving making a small request first to increase the likelihood of agreement to a larger request later.