Performance measurement is important because:
A) it allows firms to rate competitors.
B) without it, managers would not know how the global economy is doing.
C) companies presently operating in the European Economic Community need to understand how its competitors are doing.
D) lower-level metrics in an organization must connect directly to the high-level performance to achieve goals.

Question

Quizplus · Accepted Answer

Lower-level metrics in an organization must connect directly to the high-level performance to achieve goals. Performance measurement allows organizations to track progress, identify areas for improvement, and make data-driven decisions to achieve their goals. It is important for managers to have a way to measure and evaluate the performance of their organization, teams, and individual employees, as well as to connect this performance to overarching business objectives. It is not primarily about rating competitors, understanding the global economy, or companies operating in a specific economic community, although these may be factors to consider.

Performance Measurement Is Important Because