ACC MOD 4 SLP Budgeting, Variance Analysis, And Performance Evaluations

TRIDENT UNIVERSITY
ACC501-Module 3SLP
Accounting for Decision Making
Budgeting, Variance Analysis, and Performance Evaluations
Date
1. Enterprise and corporate performance management
ш The comprehensive enterprise and corporate performance management systems (EPM/CPM) integrate strategies to ensure successful strategy implementation and improve processes.
* The (EPM/CPM tools that integrate various managerial methods and strategies within the company's operation.
* Some of the tools for EPM/CPM are the balanced scorecard with the key performance indicators (KPIs) (Cokins, 2018).
* The EPM/CPM tools and techniques are useful and help in setting objectives in an orderly manner and facilitate communication of the strategy and objectives.
* The Corporate Performance Management (CPM) is a way to manage an organization strategy to determine if the organization gets the expected results.
* Controlling performance allows firms to improve profitability.
* The management evaluates performance and meets expectations.
* High performance is closely linked to the workplace culture where there is focus on quality, efficiency, innovation, and good brand value and customer service.
2. Behavioral change management
* Behavioral change management involves managing changes in behavior within organizations and motivating employees to meet the organization’s goals.
* Change management motivates behavior that is congruent with organization needs and desires.
* Highly motivated employees positive attitudes and behaviors and perform well
* Behavioral competence also influence performance and employees make are receptive to changes
* Successful change management includes transforming and integrating change in the workplace may require transforming the attitudes and behavior of the employees.
* Organizations have specific goals and objectives as well as systems fulfill functions, but when there are changes people maybe resistant to changes (Griffin, 2014)
* Change is inevitable, but the process of change is a complicated and all people react differently to changes.
* For the employees to adapt to the transformations there is a need to address behavioral change management
* Supporting learning and organizational behavior facilitates changes.
3. The balanced scorecard
* The Balanced Scorecard (BSC) is a useful tool to evaluate an organization’s objectives and measures to evaluate a company’s strategy...