Answered: Use your own word to explain heuristics…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 2Q: Is there a way to prevent managers from focusing on accounting measures as performance measures?

See similar textbooks

Related questions

Question

Use your own word to explain heuristics and In a business context,how would heuristics lead to poor decision making?

Expert Solution

Step 1

Heuristic approach:

Heuristic approach refers to a problem-solving approach that considers practical process to produce a feasible solution. This is also referred to as rule of thumb where it is assumed that the organization will be achieve their immediate goals but need not be an optimal solution.

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions