...Planning and Measuring Performance Sabir Farooqi MGT/521 February 27, 2013 Susan Jolley Abstract Organizational evaluation or assessment measures, compares, and analyze the coherence between results and specific objectives. Evaluating goals of a global operation with a unified approach is challenging, and demands for identifying significant factors in the performance and growth of the company. These factors are carefully thought and practiced before they become critical contributors in an organizational performance. Contemporary organizations follow diversified growth parameters for success. These have varied degrees of significance in individual market segments. There are different standards and tools to evaluate their performances and adjusting them to optimize expected results. Planning and Measuring Performance Part 1 The most important purpose of organizational evaluation is to generate reliable information, which then becomes a valuable experience and is useful for adjusting planning, establishing priorities, and resource allocation. During this whole process specific results are analyzed and compared with goals and objectives and then are adjusted with predetermined standards. Improvement in organizational performance can occur when there is some way of measuring performance, which creates a link between decisions and organizational goals. FedEx Corporation is a global operation with presence in more than 220 countries in the world. Growth plans and goals...
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...Planning and Measuring Performance MGT 521 Rita Marlow January 19, 2013 Wal-Mart was the company I used in my Organizational Planning assignment and I feel that this organization is successful in reaching their goals because they have good leaders who are capable of putting processes in place and determining which standards would be best to use in evaluating their company goals. There are many different ways of evaluating these standards to make sure that the company goals can be reached and it is important for leaders to make sure they are effective in measuring the company’s performance by utilizing the proper tools. Improvements in merchandise can be accomplished by setting standards such as requesting better quality from your suppliers. If the quality of the merchandise you are receiving is poor, you can either work with your current supplier to try and get a better quality product from them or change suppliers. A good friend of mine is a Purchasing Coordinator and his main functions in his position are to continually work with his suppliers in regards to cost, lead times, and quality of product. He has developed a good relationship with our suppliers which increase the company’s chance of getting a better price and better quality product. A tool that would be most effective in regards to determining which supplier offers the best quality would be benchmarking. Benchmarking would be very effective because it would give you an overview of various suppliers...
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...Planning and Measuring Performance Brandi Charette MGT 521 February 11, 2013 Linda Kulka Planning and Measuring Performance Fannie Mae is a lending company who has been providing mortgage lending options to working families for over 70 years. Their mission is to “ensure that working families have access to mortgage credit to buy homes they can afford over the long term or that they can secure quality rental housing” (Fannie Mae, 2013). Strategic and operational plans help an organization plan out their goals and how they are going to achieve those goals. The main objectives of strategic plans are to look at the vision of the organization and their priorities in regards to an evolving environment and to make sure that the organization’s members are aiming for the same goals. Operational planning is outlining the day-to-day activities of the company. Both of these need to compliment each other in order for the organization to be successful. One of the strategic goals is to demonstrate shareholder value. Fannie Mae can demonstrate this by showing that they are creating revenues that are above all costs. They are “one out of three companies to have produced double-digit growth in operating earnings per share in each of the last 15 years” (Fannie Mae, 2013). A standard for this goal would be maintaining a clear profit yearly without extending the budget. Financial controls would be in order to monitor the financial well being and activities throughout the...
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...Planning and Measuring Performance I will be evaluating the three appropriate standards on the goals of Verizon Wireless that I discussed in an earlier assignment during week three here participating in Management 521 course. Verizon Wireless three appropriate standards in my bias opinion are the mission statement, goals, and objectives. I will also mention the tools will be utilized measuring the company’s performance against the determined standards. Verizon Wireless mission statement states: "As a leader in communications, Verizon's mission is to enable people and businesses to communicate with each other. We are also committed to providing full and open communication with our customers, employees, and investors." Verizon Wireless also has a vision statement: "Verizon's commitment to top quality service is well known. Verizon is the pre-eminent service provider in the industry. Our legacy of customer service -- bolstered by the nation's largest and most reliable network -- is unparalleled. And, we continue to make strong progress in delivering on our promise to be the nation's best provider of quality local, data and long distance services." The organization statement of purpose protocol is always in effect throughout the daily routines of all it company’s employees. Executive management constantly is reminding everyone on the company’s mission and vision and the goals the company is striving for. The goals the organization sets are high but attainable. The main goal of Verizon...
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...Introduction Action planning and performance control systems regulate the outputs of the organization unit and relate to the concept of coordination by standardization of outputs. Planning specifies the standard of desired outputs and control systems assess whether or not that standard has been achieved. Budgets, schedules, specifications are all plans. Budgets are plans that specify the costs of outputs, and schedules are plans that establish time frames for outputs. Specifications are plans that establish the quality of materials, workmanship and execution standards. Control systems, which are highly dependent on the use of effective information systems, regulate and measure the overall results. The planning and control systems provide further means of coordination through. (a) Performance control imposing general performance standards (b) Action planning, defining specific decisions, actions and schedules Action planning Planning is a process of determining the vision, mission, and goals of an organization and the strategies for achieving those goals. Moreover, this action plan should clearly spell out which employees will do what to help reach those goals in a timely manner. Having an action plan in place ensures that each employee in a company understands where their energy should be focused each day, regardless if that employee is a mail room worker, administrative assistant or the CEO of the company. It involves choosing a course...
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...New Performance-Based Security Program Authored by The Sage Group The Professional Services Group (PSG) of Aronson Security Group asked us to comment on four questions related to metrics. Since creating, measuring and accelerating value is our focus, we were happy to oblige. Here were the four questions: * How do you determine what to formally measure? * How do you collect, understand and report on those metrics? * What value does security get from investing in metrics? * What value does the organization get from investing in metrics? What is Performance-Based security? Measuring security performance means assessing business and security results to: (1) determine how effective the strategies and operations are and (2) make changes to address shortfalls and other problems. There are different methods and criteria for measuring performance. However, the common strand through each is the ability to measure the results generated by core business processes, using specific metrics. For each process, there are many possible metrics. Why should Security Organization’s Measure? * Improvement: Understand your strengths and your weaknesses. Show continuous improvement over time. * Planning and forecasting: Performance metrics creates a progress trend line allowing organizations to not only be clear on their current performance position but also forecast their future condition based on the data * Technology Lifecycle Management: Performance metrics...
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...Pay for Performance through Strategic Planning Introduction Because studies have shown time and again that pay represents one of the most important factors involved in retaining qualified employees, it is little wonder that there has been a great deal of attention focused on how best to compensate employees for their performance in recent years. Moreover, because employee performance and productivity is inextricably related to organizational profitability, these issues have assumed new relevance and importance in the current economic environment. There have been some mixed reviews concerning pay-for-performance approaches to enhancing employee performance, though, that suggest there is more involved than simply throwing money at top performers. Despite these constraints, many authorities suggest that pay-for-performance programs have a lot to offer organizations seeking to identify better ways to improve employee performance. In this regard, Miller, Hildreth and Rabin (2012) note that, “Individual incentives have a central role to play in the success of most conceptual schemes related to performance. Such plans, while very difficult, have large possibilities; seemingly insurmountable obstacles can be overcome if the emphasis moves to the employee's relative needs for power, affiliation, and achievement” (p. 230). These are tall orders for any human resource manager and an organization’s leadership, though, and the fact remains that measuring individual performance is a complicated...
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...activities that generate performance, and input controls focus on resources used in performing a behavior (Wheelen & Hunger, 2008). Behavior controls define how an employee is to perform. These controls include standard operating procedures, instructions from one's supervisor, policies and rules. One behavior control is monitoring an employee during work. For example, monitoring an employee on a customer service phone call or reviewing a worker's computer for inappropriate content not related to work are types for behavior controls. Output controls include benchmarks and performance goals where the specific outcome can be measured. These include measurable facts and figures such as sales quotas or profit objectives. For example, a firm might tell its sales staff that it needs to sell 20% more than last year's figure or it might tell its operations managers that costs need to be reduced by 10% over last year's figure. Input controls include employee skills, motivation and knowledge. Hiring an individual with the necessary education and job skills to perform in a position is an input control. Additionally, there are several primary measures of corporate performance. Financial measures include return on investment (ROI), earnings per share (EPS), and operating cash flow. Shareholder measures include market value added (MVA) and economic value added (EVA). DQ 2 What methods would you consider to measure organizational performance? •SWOT Analysis- used to...
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...have an explicit goal of returning the injured party to previous or comparable levels of employment. In such cases, it is important to identify required job tasks and expected performance levels. Such information creates targeted outcomes for the rehabilitation program. The overall rehabilitation process is guided by the job analysis through a process wherein assessed levels of current functional capacity are compared to the required job performance demands (Loisel et al. 2001). Identified gaps between worker capacity and job demands are then addressed through restorative programs and/or job modification. Work transition planning In rehabilitation the job analysis is used to provide information to match the injured worker with tasks that can be safely performed on initial resumption of duties following an absence or time away from regular duties. The job analysis information serves as the foundation for a graduated work resumption process that optimizes productivity and compliments the rehabilitation program and injury recovery. Regular review of the job analysis is used to identify job demands that are suitable to the worker's capacities throughout the recovery process until the worker resumes the pre-injury job or reaches an optimal level of performance in a different job. Vocational planning Persons with disabilities who have never worked, or are seeking new careers following catastrophic injury are typically assessed to determine work interests, employment –related...
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...Performance Management Plan Taylor HRM/531 May 19, 2014 Performance Management Plan Performance Management Plan Performance Management Plan For Commercial Construction Business Located in Detroit Michigan, relocating to Arizona Employees 650 but will increase by 20% Company revenue is 10,000,000 Commercial Construction is planning on opening a new location in Arizona, creating a performance management plan would be the best thing for the company to do since they are opening a new office in a new city. For this plan I will I will mention the success of the company and some of the key components that made the organization successful. The HR department will provides some of the keys parts for the managers to understand the business and policies and procedures that will be enforced with their help. The managers for the company will also be responsible for the performance feedback, employee aptitude levels and all other parts that involve the organization when dealing with the customers. With commercial construction the performance management plan will be used and a key reference that will be used as a key guideline for all of their system support and the success of the business. Commercial Construction will deliver the service that's the Arizona community has been missing. The company has a revenue of 10,000,000 with a turnover ratio of 20%, with these type of numbers the company has a good chance to survive in the market of Arizona. And bring some good jobs to...
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...and professional manner. While effectiveness, according to the textbook is, “accomplishing tasks that help fulfill organizational objectives.” Effectiveness involves middle and front-line managers using their technical and human skills to lead and motive workers to completing a task or multiple tasks to meet organizational objectives towards a clear end goal or vision set by the CEO; which the company and individuals benefit. Unfortunately a company can be wasteful in many ways but its performance will still be adequate enough to meet objectives. B. Which is more important to performance? Arguably both efficiency and effectiveness are very important to business performance, however the main definition for performance is “1) a: the execution of an action b: something accomplished: deed, feat 2: the fulfillment of a claim, promise, or request: implementation.” This definition implies an end result of a statement of intent, which leads me to think effectiveness is most important to performance base on its own meaning and the chapter reading stated, “efficiency was not enough for success”. Furthermore, the reading...
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...Ch8 Study Guide 1. Directors started having rehearsals to work on the play as well as trying to make a more organized and natural approach to staging rather than the artificial acting style that was being used. Actor-managers and pageant masters were in charge of the play before directors. Actor-managers had little concern for a production that was unified, unlike directors who believe the acting should be unified. 2. Gesamtkunstwerk literally means “total art work”. The union of all the theatrical elements to create a thematically unified stage work. Richard Wagner developed the term. It unified the theatrical work and set the tone and mood for the characters. 3. A) Weimer Classicism: Johann Wolfgang von Goethe is related to this type of movement. He made rules for actors to follow on stage so the piece would be well-composed. All the actors had to read the text together rather than memorizing it on their own. B) Meiningen Players: Georg II, Duke of Saxe-Meiningen, ran this company. He wanted his costumes and setting to be very accurate to history. Crowd scenes displayed each actor as an individual character, while at the same time working in unison with the other actors. C) Naturalism: Andre Antoine used naturalism in his productions. In La Terre he used real hay and live chickens in a farm scene. He also used natural lights from candles showing that a real barn is being presented. 4. A) Choosing the Text: This is the first job of the directors. They may...
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...Discussion Questions: DQ#1: What are the key problems with this portion of the performance review? There are few key problems with this portion of the performance review. First of all, the review was not inclusive of what was expected of the employee. The Max only told Sue about what the issue of her “pompous attitude”. Another problem is that the review was concluded with the employee not meeting her expectation and left feeling depressed. DQ#2: How would you use the knowledge and skills you have acquired thus far in this module to redesign the meeting between Max and Sue? The first stage, according to Quinn, et. Al (2011) of the performance review is performance planning. Max should meet with his employees and discuss what is expected of them and other areas of employee concerns such as additional training required or workshop. The second stage, performance execution, Max should provide coaching and feedback on a regular basis. The next stage, performance assessment, includes how well the employees have performing and begin the necessary assessment weeks before the actual performance review. And lastly, at the day of the performance review, Max should make sure that the objectives are clear and concise to a level that the employee agrees and understands. DQ#3: What concerns, if any, do you have with Max’s conversation with Jack? What might Max have done differently? I would have verified what Jack has told me about Sue and gather all the facts before jumping...
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...14 Brief Employee Performances Introduction I choose to do this week’s brief on Using HRIS to observe Employee Performances. According to Human Resources Information System (Kavanagh, Thite, Johnson, 2012), an HRIS system should help in the process of Performance Management. This process should include performance planning, observing performance, and providing positive and corrective feedback, and developing periodic performance summaries. Companies use these performance reviews, and employees provide performance, and in exchange employers provide rewards, which are distributed via payroll systems. Should all feedback be positive, or negative? Should rewards be given for employee performance? Should companies get rid of the performance reviews? I found a recent article that makes these arguments. Results As I first read through the article, I thought that the reader was as I was before taking this HRIS course. I was ignorant to the benefits of HRIS systems. I continued to read and found that my thoughts were true. According to Samuel A. Culbert, Get Rid of Performance Reviews, (2012), performance reviews destroys morale, kills teamwork, and hurts the bottom line. According to HRIS (2012), performance data is used for promotions, lay offs, assignment to training programs, developmental assignments, training and development, and staffing. It’s not to kill moral, teamwork and the company’s bottom line. Culbert says that although performance reviews are to enlighten...
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...and I present the main points of the proposal to you in person, here is a quick overview of the proposal’s content: CLI ENTC O’S CHA LLEN GE ClientCo’s sales team has 45 sales professionals – all hired for a specific combination of education, skills and experience that they share in common, and which should assure that all are highly successful in their positions. However, sales performance across this team varies widely – from the highest performers who deliver a performance against quota of as much as 139% (the top ten range from 111% to 139% with an average performance of 125%), to the lower performers who deliver as little as 82% against quota (the bottom seven range from 82% to 99% with an average performance of just 92%). It is this gap of 57% between the highest and lowest performers that rightly concerns ClientCo. ClientCo has the potential to increase their sales output by a factor of several hundred percent if they can determine what it is that makes their top performers so much more productive than their average and bottom performers, and if they can use that information to raise the performance of every member of their sales team to the level of their top performers. PROFI LES SOLUT ION As discussed, Profile will establish a customized Online Assessment Centre (Profiles on the Web) to...
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