1. Performance Evaluation (15 points) of knit knacks ugly christmas sweater company. online year round storefront during the holidays

a. Performance Standards and Financial Controls

b. Measuring Actual Performance

example for apple. below

Performance Evaluation:

Performance standards and financial controls:

15% of the total profit will go toward advertisement. This is how we reach potential new customers which is why it is getting a decent amount of the profit money.

30% of the total profit will go towards transportation for the next year. Transportation is the most expensive aspect of our company which is why it is getting 30% of the profit.

Each project manager will be given a specific budget. Each of the three budgets will vary due to some projects being more expensive. If a project manager is in need of more money for their specific project, they can host a meeting explaining why they need the money. At the end of the meeting, they will determine if the manager will get the budget increase.

Any other new project ideas can be presented and evaluated every 3 months. This will ensure that we have new and improved products by the following year.

Measuring actual performance:

Every month, the business analysis team will have an update meeting on how many iPhones are sold so far that year.

Every three months, the business analysis team will have an update meeting on how the payment plans are doing so far that year. This will ensure that Apple is making a plan that satisfies every customer's needs. Also, improvement will be made at this time if there are any.

Every six months, the business analysis team will have an update meeting on how the IOS update is doing so far that year. This will ensure that there is progress being made during those months. This will also ensure that the IOS update is meeting the deadlines so that it can be put out in January of 2024.