Briefly describe the five criteria that measure the effectiveness of a performance management system.
What will be an ideal response?
The five criteria for measuring the effectiveness of a performance management system are fit with strategy, validity, reliability, acceptability, and specific feedback. First, performance measures should fit with the organization's strategy by supporting its strategy, goals, and culture. Second, performance measures should be valid, so they measure all the relevant aspects of performance and do not measure irrelevant aspects of performance. These measures should minimize both contamination and deficiency. Third, performance measures should provide interrater and test-retest reliability, so that appraisals are consistent among raters and over time. Fourth, performance measurement systems should be acceptable to the people who use them or receive feedback from them. Finally, a performance measure should specifically tell employees what is expected of them and how they can meet those expectations.
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The last step in the accounting record-keeping process is preparing the statement of cash flows from balance sheet amounts and from details of transactions affecting the cash account
Indicate whether the statement is true or false
Sasha, in developing her pitch deck, described the need for funding, how much she would need, what she would spend the funds on, and other resources needed. She ______.
a. articulated the purpose of the venture b. identified those served by the idea c. identified the resources required d. described the team
A graphical method of representing the sample points of a multiple-step experiment is a(n) _____
a. frequency polygon b. histogram c. ogive d. tree diagram
A random variable x is uniformly distributed between 45 and 150
a. Determine the probability of x = 48. b. What is the probability of x ? 60? c. What is the probability of x ? 50? d. Determine the expected vale of x and its standard deviation.