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
Fund Raising and Investment: Fund commitment requirement in Hedge Funds sometimes exceeds millions of dollars. In addition, high minimum investments are sometimes closed to new

Q. Credit control - account receivable management? Once credit has been established it is important to review outstanding accounts on a regular basis so overdue accounts can be

Q. Advantages of Trade Credit? i) Easy Availability: Unlike other sources of finance, trade credit is relatively easy to obtain. Except in the case of financially very unsou

Functions of Financial Manager: - The financial manager is a associate of top management. He is intimately associated with the formulation of financial policies as well as financia

Question 1: Give an account of the role of governmental bodies and officials in the making of public policies. Question 2: What do you understand by the term "Governmen

What is the correlation between the efficient portfolio and the risk-free asset? Possible answers are +1, -1, 0, or cannot be calculated.

Suppose the bid-ask spot prices for one British pound are $1.50 and $1.60 respectively. 1. Compute the bid-ask prices for one US dollar in terms of British pound. 2. Suppose

Prepare your recommendation on Agarwal Cast Company

Explain how Eurocurrency is created. Answer: The center of the international money market is the Eurocurrency market. A Eurocurrency is a time deposit of money in an internationa

What is the Exit strategy for equity stake venture Exit strategy for equity stake venture capitalists and other financiers may include: (i) Selling their shares to the publ