Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1)Think about an individual who trains to compete in the 100m running final of the Olympics: a.Fill these boxes to provide an example of what

1)Think about an individual who trains to compete in the 100m running final of the Olympics:

a.Fill these boxes to provide an example of what is an input, activity, output and outcome of this scenario for this individual

b.How could you measure the individual's output? What would be a relevant:

i.performance measure(including units) ___________________________

ii.target (for that measure) ___________________________

c.Explain how this output measure (from b) be used to give feedback to the runner?

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

_____________________________________________________________________________________

2)Steve is trying to improve the development of new products, by giving members of the R&D team cash bonuses based on the number of patent applications they file with regulators. However, some employees are knowingly filing applications that are incomplete or copies of existing patents.

Is an example of (circle one): GamingORManipulation

Explain why?_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

3)Classify each of the following as either performance; performance measure; or target

Return on investment (%)

Annual change in profit ($)

Profitability

Timeliness

Average wait time (mins)

Achieve ROI > 8%

4 mins

$/hour

4)What are the 9 criteria of good performance measurement?

____________________________________________________________

____________________________________________________________

____________________________________________________________

5)In the table below are a series of statements describing problems in performance measurement. For each problem identify the relevant criteria of 'good' performance measurement

Problem in performance measurement

Relevant criteria

Profit is a meaningless measure of the performance of charities

Because of changes to the company privacy policy, the HR department can no longer monitor the time staff spend on social media.

The rating my manager gives me for my weekly performance varies depending on his mood.

As they get paid per hour, Henry and his friends always work slowly on the production line

As he only has one product that doesn't have much overhead costs, Bob thinks it is wrong to change from a plantwide rate system to an ABC system

Mary prefers individual assignments rather than group assignments as she doesn't have to worry about the expertise or motivation of anyone else

A CFO wanted to improve last year's profit, so changed the delivery dates so that sales more were recorded in the last period

Brian recently received a score of 7.25 for his project but he doesn't know if that is good or bad.

Students are upset that the results of mid-semester exam are only available in Week 12.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial And Managerial Accounting

Authors: Carl S. Warren, Jefferson P. Jones, William Tayler

16th Edition

0357714040, 9780357714041

More Books

Students also viewed these Accounting questions

Question

Be honest, starting with your application and rsum.

Answered: 1 week ago

Question

What are the need and importance of training ?

Answered: 1 week ago

Question

What is job rotation ?

Answered: 1 week ago