1. Explain the importance of performance management and the role of a performance measurement system in value creation, sustainability performance, and strategic implementation. Cite a scenario to prove your answer.

2. Explain how can a properly designed balanced scorecard aid an organization to monitor and implement strategy.

3. Identify ideal performance measures in each perspective of a Balanced Scorecard for a Hotel and Restaurant business.

4. What are the potential behavioral effects resulting from performance evaluation and reward systems. Elaborate.