implications of cost clasification in improving performance of the organization
ID: 2491779 • Letter: I
Question
implications of cost clasification in improving performance of the organization(able to provide relevant detail implications of how cost clasification can assist the management in improving the performance of the organisation.) material,labour,overhead
700 words and harvard referencing implications of cost clasification in improving performance of the organization
(able to provide relevant detail implications of how cost clasification can assist the management in improving the performance of the organisation.) material,labour,overhead
700 words and harvard referencing implications of cost clasification in improving performance of the organization
(able to provide relevant detail implications of how cost clasification can assist the management in improving the performance of the organisation.) material,labour,overhead
700 words and harvard referencing
Explanation / Answer
Implications of cost clasification in improving performance of the organization
PERFORMANCE MEASUREMENT
Improvement in individual, group, or organizational performance cannot occur unless there is some way of getting performance feedback. Feedback is having the outcomes of work communicated to the employee, work group, or company. For an individual employee, performance measures create a link between their own behavior and the organization's goals. For the organization or its work unit's performance measurement is the link between decisions and organizational goals.
It has been said that before you can improve something, you have to be able to measure it, which implies that what you want to improve can somehow be quantified. Additionally, it has also been said that improvement in performance can result just from measuring it. Whether or not this is true, measurement is the first step in improvement. But while measuring is the process of quantification, its effect is to stimulate positive action. Managers should be aware that almost all measures have negative consequences if they are used incorrectly or in the wrong situation. Managers have to study the environmental conditions and analyze these potential negative consequences before adopting performance measures.
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