We have discussed different ways to evaluate a manager’s performance from labor and overhead, material, and cost. We are asked to discuss our experiences with the company we work for. I work for a company that sells software to manage every workforce need from recruitment to retirement. The clients also get HR, payroll, and talent management in a single solution that connects people globally with information and resources they need to work more efficiently. One of our clients are a Gas & Oil company and we process their payroll biweekly. They have over 400 cost center locations. The managers of the cost center are expected to minimize cost while providing the level of products and services demanded by the other parts of the organization. They are evaluated by comparing actual cost to how much costs should have been for the period. They are always trying to keep their labor down as well as to make sure the cashiers are upselling and promoting new product. Our team is measured by customer service, growth, financial, and the internal business process. Our vision is to serve and retain the customers, keep improving the business process, and continue to grow and learn as a company. All of our clients are happy with our products and services, and they are happy about their return on investments since using our software. Sometimes the problem with using financial performance measures is that management spends less time talking about the strategy of the organization. If they don’t talk about it then it will not be implemented well. Financial performance measures are not sufficient in themselves. They should be integrated with nonfinancial measures in a well-balanced scorecard.
Garrison, Noreen, and Brewer. (2012). Managerial Accounting. (14th ed). McGraw Hill
Great Basin Region of the Financial Services Corporation is a company that provides check processing services for small banks. The bank send checks presented for deposit or payment to FSC, which then...
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