According to the textbook, the initial step in creating an effective performance measurement system is to:
A) Develop the process
B) Contact supply chain partners
C) Identify the firm's strategic objectives
D) Improve performance as much as possible

Question

Quizplus · Accepted Answer

Identifying the firm's strategic objectives is the first step in creating an effective performance measurement system. This step helps in aligning performance metrics with the company's goals and objectives. Without clarity on strategic objectives, it will be difficult to determine key performance indicators for measuring success or progress. Therefore, it is important to identify and prioritize the company's strategic objectives before designing any performance measurement system. A, B, and D can be important steps in the process but are not the initial step.

According to the Textbook, the Initial Step in Creating an Effective