Responsibility accounting is an accounting system that measures accounting results of each responsibility center separately; it also measures consolidated results.
Management by exception means that management focuses on areas where there are problems, as identified by the fact that there is a variance from the standard. In order for a company to use management by exception, standards must be set and there must be a system whereby variances are identified and reported to the appropriate level of the company.
The primary area of concentration in MBO is goal congruence; it is behavioral, communication-oriented, and a responsibility approach system.
Benchmarking is the process of a company using the standards set by other companies as a target or model for its own operations. This is also called best practices. It is the process of continuously trying to emulate (imitate) the best companies in the world.
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