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Management · Q317

Strategic Management

Graduate and Post Graduate · Management · question 317

Q317

What term best describes the use of both financial and non-financial measures in assessing whether an entity has achieved its objectives?

A.
Balanced scorecard
B.
Benchmarking
C.
Performance measurement
Answer
D.
Target setting

Answer: Option C

Solution

Answer: Option C
Solution:
Performance measurement best describes the use of both financial and non-financial measures in assessing whether an entity has achieved its objectives. Performance measurement is generally defined as regular measurement of outcomes and results, which generates reliable data on the effectiveness and efficiency of programs. Resources (human resources, employee time, funding) used to conduct activities and provide services.