Performance Management

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.