Activity-Based Management (ABM) involves using insights gained from Activity-Based Costing (ABC) to improve the overall management and efficiency of an organization. It focuses on identifying activities, understanding cost drivers, and analyzing how resources are consumed based on activity levels.
A competitive advantage is the measure of an organization's product, service, or unique capability that allows it to outperform its peers within the market. It signifies the unique position and value proposition that a company holds over its competitors.
Corporate Performance Management (CPM) encompasses the methodologies, metrics, processes, and systems used to monitor and manage the business performance of an enterprise. CPM is a form of business intelligence used to gauge and manage organizational performance to achieve strategic goals and corporate initiatives.
A functional budget is a financial or quantitative statement prepared for a specific function of an organization. It summarizes the policies and the expected level of performance to be achieved by that function over a budget period.
Evaluation of management effectiveness across eight key areas as suggested by management theorist Peter Drucker.
A comprehensive evaluation of the impact that an organization has on society, including components like environmental audits as part of broader social responsibility reporting.
The total of all the standard cost allowances for the actual level of activity achieved by an organization. It serves as a benchmark guide to manage and control the costs within an organization.
