Asked by LaTasha Simmons on May 20, 2024
Verified
Performance measurement systems use externally imposed benchmarks of the competitive landscape to assess internal performance.
Externally Imposed Benchmarks
Standards or measures of performance that are set by external organizations or bodies, which a company must meet or comply with.
Competitive Landscape
The dynamic external environment within which a business operates, characterized by the competition between existing firms, new entrants, and substitutes.
- Distinguish between internal and externally imposed benchmarks in assessing performance.
Verified Answer
PD
Paulette DuraznoMay 23, 2024
Final Answer :
False
Explanation :
Performance measurement systems often use a combination of internally set goals and objectives, as well as external benchmarks, to assess performance. They are not solely based on externally imposed benchmarks of the competitive landscape.
Learning Objectives
- Distinguish between internal and externally imposed benchmarks in assessing performance.
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