Explain Why Measures of Success Are Important to Effective Decision

question 212

Essay

Explain why measures of success are important to effective decision makers and give an example of one.

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Definitions:

Decentralized Corporation

A business structure where decision-making is distributed among various managers and departments, rather than being concentrated at the top level.

Balanced Scorecard

A system for strategic planning and management designed to align organizational activities with its vision and strategy.

Customer Satisfaction Ratings

A measure used to quantify the degree to which a customer is happy with a product, service, or experience.

Lagging Indicator

Any metric where performance is predicted by performance in another metric.