Description

The purpose of this course is to provide an understanding of factors to be analyzed for control and performance evaluation including revenues, costs, profits, and investment in assets; variance analysis based on flexible budgets and standard costs; responsibility accounting for revenue, cost, contribution and profit centers; and balanced scorecard.

Program

MBA

Objectives

• Upon successful completion of the course, students will be able to: • Explain the concept of performance management. • Distinguish performance management from performance appraisal. • Recognize the multiple negative consequences that can arise from the poor design and implementation of a performance management system. • Describe and explain the key features of an ideal performance management system. • Define strategic planning and its overall goal. • Describe the various specific purposes of a strategic plan. • Describe the basic components of a good vision statement. • Understand the relationship between mission and vision statements, goals, and strategies. • Explain why a consideration of strategic issues is a building block for creating support for a performance management system. • Adopt a trait approach to measuring performance, which basically focuses on the performer and ignores the situation, his or her behaviors, and the results produced. • Understand the situations under which a trait, behavior, or results approach to measuring performance may be most appropriate.