Setting Performance Targets (The Managerial Accounting Collection)

Establishing performance targets is a crucial part of the broader performance management system in organizations. Performance targets are important as they are the standard used to evaluate performance to financial and non-financial measures, and reaching targets may be linked to bonuses and other incentives. This book is designed to help readers understand and be more effective in establishing and managing performance targets, whether you are a senior executive or a middle manager. It will help examine how target setting impacts on other parts of the performance management system, performance targets for a range of measures (e.g., financial, non-financial), motivation and how difficult targets should be, the implications of strategy and managing change, and implications for incentive systems, and discusses recent ideas on how to improve performance targets.