Performance Management

Imagine you are an employee of an investment firm where you have been working hard all year, hoping to be rewarded at your annual review. You know how many accounts you have worked on this year, the innovative ideas you proposed, the many goals you set for yourself and met, and the solution you came up with to solve one of the firm's biggest problems, so you are anticipating a substantial pay raise as you sit down with your supervisor to go over your review. Much to your dismay, your supervisor did not document many of your accomplishments, and though he has a list of the goals you set from last year, he did not keep track of the ones you met. Because of his poor performance management skills, you are given less of a pay raise than you expected.

Performance management is as important for organisations as it is for individuals. If an organisation's performance is not effectively managed, it can lead to declines in productivity and profitability, dissatisfaction of employees and even damage to the organisation's reputation. In this Shared Activity, you evaluate tools for measuring organisational performance and how these tools might be used to better manage organisational performance.

To prepare for this Shared Activity:

1. Focus on the measurement of organisational performance.

2. Search the Internet to identify additional tools and techniques to measure organisational performance.

3. Think about the organisation in which you work or one with which you are familiar, and consider how they measure performance.

4. Select two tools or techniques for measuring performance to evaluate and compare.

Question:

1. Post and identify the two tools and/or techniques you selected for measuring performance and explain why you selected each; explain the strengths and limitations of the two tools and/or techniques; explain how the two tools and/or techniques might be implemented in your organisation, or one with which you are familiar; and propose at least one way you could modify an existing tool or technique that might increase the tool or technique's ability to measure performance. Support your arguments with appropriate citations.

Note : 600 - 800 word. Havard style and atlist 4-8 references