Explain the meaning of the term 'critical success factors' in a business giving-新东方在线职业题库

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Explain the meaning of the term 'critical success factors' in a business giving examples of such factors.

Chapter21Performancemeasurement

Critical success factors are those areas of a business and its environment which are critical to the achievement of its goals and objectives. A company may, for example, express its main goal as being a world-class business in its chosen areas of operation. Management should identify critical success factors since failure in any one such factor may prevent or inhibit the advancement of the company and the achievement of its goals.

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What does an adverse variable overhead efficiency variance indicate and what might be the cause?

Explain briefly the possible causes of

(i) A favourable material usage variance

(ii) A favourable labour rate variance

(iii) An adverse sales volume contribution variance.

What is the relationship between the labour efficiency variance and the variable overhead efficiency variance? Why might the monetary value be different?

Explain the meaning and relevance of interdependence of variances when reporting to managers.

A balanced scorecard measures performance 什om four perspectives: customer satisfaction, growth, financial success and process efficiency. Briefly explain these processes.

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