Absolute performance standard, Financial Management

Absolute Performance Standard is a method of measuring an organization's development and how effective and efficient it is at operating its business. The absolute performance standard is a yardstick for quality control that is only achievable in theory. Though, it is a good method to measure how fine a business and its workers are doing.

Many organizations apply different forms of performance standards that calculate various aspects. Some companies use "pay for performance" incentive programs that are based on merit for workers who do well in their job. Performance standards must be specific, attainable, meaningful, observable, measurable and stated in terms of quantity, quality, timeliness or cost.

 

Posted Date: 7/27/2012 1:33:27 AM | Location : United States







Related Discussions:- Absolute performance standard, Assignment Help, Ask Question on Absolute performance standard, Get Answer, Expert's Help, Absolute performance standard Discussions

Write discussion on Absolute performance standard
Your posts are moderated
Related Questions
Q. Explain demerits of accept-reject criteria? Demerits of ARR:- (i) It utilizes accounting income rather than cash flows: - The principal short coming of ARR schema is th

Dividend cover Dividend cover = Profit available to ordinary shareholders (PAT) / Annual dividend(no. of times) Or =    EPS/Dividend per share Dividend cover shows safety

Optimal Cash Model: Cash Management is a bigger aspect that involves range of functions that assist individuals and business to process their payments and receipts in an organ

Advantages of Private Mutual Funds It is felt that the entry of private Mutual Funds would encourage competitiveness in the financial sector and promote the existing investment

Stream of Expected Returns Investment returns can take many forms. An investor must consider all these forms to evaluate an investment option accurately. A brief description of

The Stock of Jeo Ltd performs relatively well compared to other stocks during recessionary periods. The stock of Avi Ltd, on the other hand, does well during growth periods. Both

Question 1: Analyze the practice of democracy as advocated by the early Greek political thinkers. Question 2: To what extent can Man live peacefully with each other wi

Suggestion regarding Credit limit. Should it be approved or not, what should be the amount of credit limit that electronics give to Booth Plastics.

How is present value influenced by a change in the discount rate? Present value is oppositely related to the discount rate.  Alternatively, present value moves in the reverse dire

REPORT To: The Directors of Leaminger plc From: A business advisor Date: December 2002 Subject: Acquiring the turbine machine Introduction In financial