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Setting Performance Targets by Carolyn Stringer

Setting Performance Targets

by Carolyn Stringer
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Book cover type: Paperback
  • ISBN13: 9781606491379
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Business Expert Press
  • Publisher Imprint: Business Expert Press
  • Publication Date:
  • Pages: 156
  • Original Price: USD 21.99
  • Language: English
  • Edition: N/A
  • Item Weight: 218 grams
  • BISAC Subject(s): Management, Accounting / Managerial, and Human Resources & Personnel Management

Targets are an important part of our work life, whether we are setting them or meeting them. Target setting forms part of the budgeting process and the performance management of business units and individuals. Unfortunately the behavioral impacts of target setting on performance are not well understood, and this can lead to serious consequences such as game playing. Target setting is an under-researched area. This book will help you fill the gap in target setting for performance. The pivotal issue in target setting is that it is an art as well as a science. Perhaps more of an art, requiring a balance between the psychologies of the people taking initiatives, the science of estimating probabilities and aligning with strategies, coupled with the effects of incentives. Another feature of this book is how the authors drew on ideas and research across disciplines, which is rarely done in this field. Inside this book, you will be introduced to some of the important methods in target setting such as forecasting, sensitivity analysis, and probability analysis; all of which include practical examples to show how these techniques can be directly applied. In the end, you'll learn how interrelated the various parts of organizational activities are and how they impact on each other, which is important since target setting must include an understanding of the organizational context (e.g., people, competitive environment, structure, strategy) as well as the impact of incentive compensation and information flows.

Stringer, Carolyn: - Dr. Carolyn Stringer is a senior lecturer in the Department of Accountancy and Finance at the School of Business, University of Otago, New Zealand. Her PhD research involved a longitudinal case study examining performance management processes. She has been published in numerous international journals, and is a founding member of the Centre for Organisational Performance Measurement and Management at the University of Otago and is interested in promoting the exchange of cutting-edge knowledge between academics and practitioners.

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