The Absence of Good Performance Measures Restricts the Owner's Ability

question 152

Multiple Choice

The absence of good performance measures restricts the owner's ability to motivate managers through

• A)rewards for products.
• B)performance-based incentives.
• C)monetary rewards.
• D)compensation.
• E)non-financial rewards.

Explain the concept and benefits of natural reward strategies in maintaining motivation.

Recognize the importance of an entrepreneurial mindset in identifying opportunities.

Explain the significance of self-cueing and self-leadership in entrepreneur behavior.

Understand the dynamic nature of self-efficacy and its impact on entrepreneurial performance.

---

Definitions:

Effective Management

Practices and techniques that lead to achieving desired results through efficient use of resources and team coordination.

Bullwhip Effect

A phenomenon where inaccurate or distorted information in a supply chain causes overreaction and variability in orders, often leading to inefficiency and excess inventory.

Weighted Total

A calculated total in which different components are given different levels of importance or weight, often used in assessments or decision-making processes.

Lot Size

Refers to the set quantity of items that are processed, ordered, or produced together at a time.