Which of the following is true regarding performance metric? a) a firm should use an array of metrics to evaluate its entire business. b) All financial ratios are considered to be of one type and cannot be separated into different categories. c) The health of a firms human resources can be evaluated in terms of market share. d) Market performance can be measured in terms of employee turnover.

Which of the following is true regarding performance metric? a) a firm should use an array of metrics to evaluate its entire business. b) All financial ratios are considered to be of one type and cannot be separated into different categories. c) The health of a firms human resources can be evaluated in terms of market share. d) Market performance can be measured in terms of employee turnover.

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter12: Purchasing And Supply Chain Analysis: Tools And Techniques

Section: Chapter Questions

Problem 7DQ

See similar textbooks

Similar questions

What are some of the performance management challenges that must be addressed, no matter what the system?
As a Human Resources Manager, you need to create a competitive pay policy for your company to achieve several objectives. Those objectives are to: 1. adjust internal pay levels to changing competitor pay rates. 2. set the internal mix of pay types relative to those paid by competitors. 3. estimate the labour costs of product market competitors. Describe four (4) steps you will take to create a systematic process and collect relevant information to achieve the above objectives. Please do fast ASAP fast
Describe the differences between the industrial organization (I/O) and the resource-based models of above-average returns. As an analyst, how would you determine the significance or validity of these models with respect to a given industry?
Rather than focusing on human resource management (HRM) as a means of supporting its quality initiatives, Graniterock could have chosen another area as its focal point (e.g. marketing, operations, information systems, and so on). How does a focus on HRM support a company’s quality initiatives?
Evaluates the performance measures that need to be implemented to ensure the smooth running of the company's operations. You should consider the aspects: Financial Quality Human Resources
Locate a current and reliable source of information on the performance management cycle. Discuss the components of the performance management cycle and the frequency each component is conducted over the course of an annual performance management cycle. The steps of the process in order are as follows: Step 1: Define Performance Outcomes for Company Division and Department -Purpose -Frequency Step 2: Develop Employee Goals, Behavior, and Actions to Achieve Outcomes -Purpose -Frequency Step 3: Provide Support and Ongoing Performance Discussions -Purpose -Frequency Step 4: Evaluate Performance -Purpose -Frequency Step 5: Identify Improvements Needed -Purpose -Frequency Step 6: Provide Consequences for Performance Results -Purpose -Frequency
How to create a definition of performance. How to identify the determinants of performance and the influential factors associated with performance. The difference between task and contextual performance. The appropriate approach to measure performance. How to develop accountabilities, objectives, standards, and competencies for performance. How to develop comparative and absolute performance measurement systems.
How can organizations use performance metrics and monitoring to track progress towards their goals and adjust their plans as needed? What are some best practices for developing and using performance metrics effectively?
Assume you are employed as the Training Manager in a company and would like to carry out a training needs assessment for 100 employees who are located in one city where you have identified a gap in performance hence you have all the background information you need. Use this information to answer the following questions. a) Explain the steps you would take to carry out a training needs assessment of the employees. b) Briefly discuss any two reasons why it is a good practice to collect both qualitative and quantitative data in a training needs assessment. c) Using the same organisation, describe BRIEFLY how you would carry out training on “Good Customer Service” in a one-day workshop. Pay attention to all the preparatory activities you would carry out BEFORE the training and how you would carry out the training itself.
Measuring actual performance can be done through: a. Assessing the behavior of employee b. Assessing the output of employee c. Both are correct d. Non are correct
The concept of performance appraisal is about evaluating: O The performance of the company O The performance of an industry O The performance of individuals at job O The performance of various departments
What are ways that you keep performance going on a job? Design, develop, and present the second phase performance improvement plan using performance tools. Explain how these two offices will require different monitoring, management and implementation tools. Explain how assessment and evaluation of performance improvement will occur and be addressed in these two offices.