Measuring and Evaluating Performance Is Important to Managers

question 69

Short Answer

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 this class.

a. Lagging indicator

b. Leading indicator

c. Nonfinancial measure

d. Benchmarking

e. Best practices

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Definitions:

Attitude

A predisposition in one's mindset to appraise an entity positively or negatively, indicating favoritism or antipathy.

Behavior

Behavior refers to the actions or reactions of an organism, usually in relation to its environment, which can be observable or measurable.

Milgram's Obedience Experiment

A psychological experiment conducted by Stanley Milgram which measured the willingness of participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.

Ethical Dilemmas

Situations where there is a conflict between moral imperatives, making it challenging to decide the right course of action.