Performance of Staff and Achieving Business Objectives (VCE SSCE Business Management): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What are business objectives?
What are business objectives?
Specific outcomes a business aims to achieve
Which function do staff fulfill in a business?
Which function do staff fulfill in a business?
Vital input in the production process
How are employees described in terms of business finance?
How are employees described in terms of business finance?
Largest expense and most valuable asset
In SMART objectives, what does the 'M' stand for?
In SMART objectives, what does the 'M' stand for?
Measurable
What does 'Specific' mean in SMART objectives?
What does 'Specific' mean in SMART objectives?
Clear and directly related to tasks
Why must SMART objectives be 'Time-bound'?
Why must SMART objectives be 'Time-bound'?
Creates urgency and allows progress tracking
Who developed Management by Objectives (MBO)?
Who developed Management by Objectives (MBO)?
Peter Drucker in 1954
How does MBO link objectives?
How does MBO link objectives?
Individual to team to dept. to business
What is a benefit of MBO for performance measurement?
What is a benefit of MBO for performance measurement?
Provides objective criteria for assessment
What happens when employees are engaged with their objectives?
What happens when employees are engaged with their objectives?
They suggest improvements and take initiative