Answer to Question #56135 in Accounting for alice
Write a detailed report on how company performance can be improved to better meet performance indicators. You should include the following:
• What factors may impact on financial performance?
• What non-financial factors are also important to meeting company goals?
• What strategies can be put in place to encourage staff to work towards achieving performance goals?
• How can company performance and relevant information be communicated to appropriate personnel to ensure relevant steps are taken to meet performance indicators?
• Discuss how capital budgeting can assist in the financial decision making process
1) Financial performance may be affected by: general economic conditions; customer demand for our products and services; competitor pricing on similar products and services; interest rates and the shape of the interest rate yield curve; the performance of the equity and capital markets.
2) Non-financial factors that are also important to meeting company goal are the performance and productivity of employees, some conditions of work etc.
3) The strategies that can be put in place to encourage staff to work towards achieving performance goals are: providing a clear career path, employee recognition, cultivating a culture of freedom, offering flexibility, corporate social responsibility, competitive remuneration, clear lines of communication.
4) Capital budgeting is the planning process used to determine whether an organization's long term investments are worth the funding of cash through the firm's capitalization structure.
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