After reading this chapter, you should be able to: |
LO 18-1 | Explain why management accountants should know the business strategy of their organization. |
LO 18-2 | Explain why companies use nonfinancial performance measures. |
LO 18-3 | Understand the reasons why performance measures differ across levels of the organization. |
LO 18-4 | Understand how the balanced scorecard helps organizations recognize and deal with their conflicting responsibilities. |
LO 18-5 | Understand how to apply the methods involved in an effective performance measurement system. |
LO 18-6 | Identify examples of nonfinancial performance measures and discuss the potential for improved performance resulting from improved activity management. |
LO 18-7 | Explain why employee involvement is important in an effective performance measurement system. |