Prerequisites of effective performance management are as follows: Clarity of Organisational Goals: Managers need to clearly and precisely lay-down the organizational goals and objectives and ensure that these are well-informed to the managees and other employees and make them realize …
The various principles of performance management are discussed below: Translation: The translation or conversion of corporate objectives into the team, departmental, divisional, and individual objectives is done with the help of this principle of performance management. Integration: In order to …
The performance management process is a continuous cycle, usually consisting of three elements, as shown in the figure below. Performance Planning Performance planning means setting performance expectations and goals for groups and individuals to channelize their efforts towards achieving organizational …
The main objectives of performance management are stated below: To facilitate the employees to achieve higher levels of performance. To help the employees determine the various required skills and knowledge to work efficiently. Thus, the focus of the employees is …
Following are the various features of performance management: 1) Ongoing Process: Performance management is an ongoing process? Rather being a yearly exercise that involves continuous monitoring and feedback from employees. Further, employees should be involved in performance management at various …
The systematic process that can be employed to improve the overall performance of an organization by enhancing individual performance within the framework of a team is called Performance Management (PM). This process can be seen as one of the most …
The factors which can ensure the success of the new service development process are as follows: 1) Nature of Service: These factors are associated with exploring the basic nature of the service in terms of cost, complexity, innovation, quality, and …
The NSD process involves the following steps: Stage 1: Generating the Concept: The ideas about new services can be generated internally or externally. Internally, the sources can emerge from the sales staff, front office staff, or specifically the R&D department, …
The types of new services are as follows: 1) Style Modifications: Style modifications refer to the basic form of innovation, which usually does not involve any process or efficiency changes. Yet, modification in style is frequently seen, which helps in …
Competitive intensity and customer expectations are increasing in nearly all service industries. Thus, success lies not only in providing existing services well but also in creating new approaches to service. Because of the outcome and process aspects of service often …