Your CEO has just come back from a training seminar in which the focus was performance management and the benefits of applying the tools of performance management to organizational operations.

The CEO has been overwhelmed with information and would like a report that will help him understand the key aspects of performance management as he wants to ensure that the organization is better−$-$implementing performance management tools within daily operations.

Specifically, the CEO has asked that your report cover the following

1.$1.$ What is performance management?

2.$2.$ What is Strategic Management Accounting ($($SMA)?$)?$ The CEO requires an in−$-$depth explanation of the various strategic performance management tools such as benchmarking and strategic models ($($such as Porter$$s five forces and the BCG Matrix)$)$ and requires a better understanding of how these tools assist organizations in better meeting their corporate goals.

3.$3.$ The CEO has questioned performance hierarchy and what role and impact an organizational structure and mission statement has on performance management.

4.$4.$ Lastly, the CEO would like a better understanding of the purpose of budgets, the approaches to budgets, and the alternative budget models.

Required

You are required to write a report to the CEO in a bid to provide the CEO with a better understanding of the above. Ensure that you deal with all the issues highlighted above.

Answer rating: 100% (QA)

Report on Performance Management and Strategic Management Accounting 1 Performance management is a systematic process that helps organizations improve the effectiveness of their employees teams and ov... View the full answer