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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Why is it important for a manager to receive frequent feedback on his or her performance?

To determine

Explain the importance for managers to receive frequent feedback on their performance.

Explanation

Goal Congruence:

Goal congruence is the process in which managerial objectives are aligned with organizational objectives to create a positive atmosphere within an organization towards achievement of budgets.

Goal congruence can be achieved with the help of frequent feedback, incentives, participative budgeting, realistic standards, controllability of costs, and multiple measures of performance.

It is important for managers to receive frequent feedbacks due to the following reasons:

  • • Feedback helps managers to check their progress...

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