...SUBDOMAIN 317.1 - ORGANIZATIONAL BEHAVIOR & LEADERSHIP Competency 317.1.6: Performance Evaluation - The graduate can develop and recommend how to implement effective performance evaluation processes. Objectives: 317.1.6-03: Define what should be evaluated in a performance evaluation. 317.1.6-04: Compare the relative value of common sets of evaluation criteria. 317.1.6-05: Explain how it can be advantageous to have supervisors, peers, and subordinates all participate in the evaluation process. 317.1.6-06: Explain how it can be disadvantageous to have supervisors, peers, and subordinates all participate in the evaluation process. 317.1.6-08: Compare and contrast common performance evaluation methods. 317.1.6-09: Give examples of errors and biases that commonly impact the accuracy of performance evaluations. 317.1.6-10: Select techniques that can be used to improve performance evaluations in a given situation. Introduction: In this task you are presented with a management incident that requires you to apply sound performance appraisal concepts to the situation. Given: An engineer was hired two years ago at a mid-sized manufacturing plant. The engineer previously worked in the aerospace industry and is a bright, detail-oriented person and a hard worker. The engineer has suggested changes at the plant that resulted in considerable savings on manufacturing energy costs and eliminated a significant safety hazard that had been overlooked by the previous engineer. However, some co-workers...
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...shall continuously search a BUYERS for the items with the intention of establishing strategic and long-term business relationships. 2. The selection of suppliers is the responsibility of Procurement personnel. In making the selection Procurement will coordinate closely with the requisitioning department/subsidiaries to obtain adequate and reasonable specifications. Procurement should endeavor to place orders with regard to the dependability and service record of the supplier. The nature of the guaranty and warranty and its price and the quality. Preference should be given to the following types of suppliers, providing this involves no sacrifice in quality, service or price. 3.Supplier with adequate financial strength who also have a reputation for adhering to specifications and delivery schedules. 4.There will be two types of accreditation. specific to suppliers class: *Non-primary – supplier may either be New (with minimal transaction and no established performance history) or Accredited (with frequent transactions but on a short-term basis). Accreditation will focus on establishing legality of business and supplier’s capability to supply/deliver. *Primary – Supplier who has demonstrated an excellent performance history and transactions are on a long-term basis. Evaluation will focus on establishing supplier’s capability to sustain excellent performance and support long-term relationship with MEGAPUI. 5. The following documents must be submitted for accreditation *Non-primary...
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...of the services that otherwise would be otherwise rendered by an IT unit of the organization. Some reasons for outsourcing include organizations being able to focus purely on their core business, for example an automobile factory. The raw materials required to manufacture an automobile are outsourced to other companies and hence the company itself can focus on just creating quality automobiles. By outsourcing the raw materials to companies who specialize in providing them, they can also ensure that the raw materials are of reasonably better quality and this can be done by contracting with a new service level agreement. Another reason being companies are able to access the wide pool of talent available through hiring agencies. In layman terms, outsourcing involves transferring the management and day-to-day execution of an entire business function to an external service provider. Outsourcing is mostly attractive to smaller companies as it can help to reduce the cost of hiring addition manpower who might not be useful in their daily running of the business, or service industries such as hospitals where they obtain their supplies...
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...Performance Evaluation of Selected Ceramic Companies of Bangladesh Abdullah Al Masum1, Fatema-Tuz-Johora2 1. Faculty of Business, ASA University Bangladesh 2. Faculty of Business, East West University Bangladesh ABSTRACT This paper applies performance evaluation of ceramic industry of Bangladesh and to test its financial soundness. The main aim is achieved through ratio analysis of four selected ceramic (Fu Wang, Monno, Shinepukur and Standard) companies in Bangladesh. Measurement of financial performance by ratio analysis helps identify organizational strengths and weaknesses by detecting fi- nancial anomalies and focusing attention on issues of organizational importance. The financial performance of this industry is measured in terms of profitability, solvency, efficiency and liquidity analysis and to test the financial soundness, Multivariate Discriminate Analysis (MDA) is used, which was developed by Prof. Altman. The study covers four public sector ceramic com- panies listed on Dhaka Stock Exchange. The study has been undertaken for the period of five years from 2006-7 to 2010-2011 and the necessary data has been obtained from the audited annual report of the selected companies. The liquidity position was very weak in all the cases of the selected companies and thereby reflecting the difficulties in paying short-term obligation on due date. Financial stability of the selected companies has shown an upward trend. This study will help investors to identify...
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...Best Practiced Trends in Performance Management Shanel Carter HRM 6622, Dr. Richard Voss Troy University Term 4 Best Practiced Trends in Performance Management Abstract Performance management is a comprehensive approach used to identify performance breakdowns within an organizational system and appropriate interventions useful in achieving the desired performance results. When defining performance management one needs to be able to look into the cyclical approach of performance management. Performance management is about more than just managing or documenting annual goals. It is important because it is an ongoing partnership between an employee and a manager that helps guide performance and development within their company. To get a better understanding of the best used practices and current trends within performance management, this research will briefly discuss successful practices used among companies that utilize the four main components of performance management which are, planning, coaching, providing feedback and the performance review. Best Practiced Trends in Performance Management Today’s world is continually changing and expectations are on the rise. Managing employee performance is essential in helping companies meet these expectations. Many companies have adopted the performance management process in order to monitor and improve performance within the workplace. The goal of performance management is to guarantee each...
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...that teachers face in their work is the process of assessment. Classroom assessment includes all the process involved in making decisions about students learning progress. It includes the observation of students’ written work, their answers to questions in class, and performance on teacher-made and standardized tests. According to (Koyalik, 2002 as cited in Eggen & Kauchak, 2004): i. It facilitates teachers in decision making about learning progress through systematic information gathering. Besides that, assessment also accomplishes two other important goals; increasing learning and increasing motivation. The relationship between learning and assessment is very strong. Students learn more in classes where assessment is an integral part of instruction than in those where it isn’t. Brief assessment that provides frequent feedback about learning progress is more effective than long, infrequent ones, like once-a-term tests. 255 255 CLASSROOM ASSESSMENT 10.1 l CHAPTER 10 Definition of Measurement, Evaluation, Assessment and Test Assessment, evaluation, measurement and test: all four terms have to do with the systematic process of collecting data and analysing those data to make decisions. These four terms may all mean the same thing, but there are some important differences among them, especially to teachers who engage in...
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...Strategic Management Process Paper Strategic management refers to a set of managerial decisions and actions that determines the long-run performance of a corporation (Wheelen & Hunger, 2008, p. 3). It includes environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The content of this paper will describe the components of a strategic management process and indicate why strategic management is needed in a company, furthermore, a description of how General Electric (GE) uses strategic management process in their company. Components of a Strategic Management Process The first component is environmental scanning, which is basically gathering information from external and internal environments to key people within the corporation. Its purpose is to identify strategic factors that will establish the future of a corporation. An easy way of predicting the future of a corporation is through a SWOT Analysis. SWOT is used to describe the strengths, weaknesses, opportunities, and threats for a specific company. The external environment consists of opportunities and threats (Wheelen & Hunger, 2008, p. 11). These variables happen outside the organization, which management has no control over. For instance, one company does not have the right to prevent another company of marketing the same product or service. Company A must strive to become better than other competitors. On the other hand, the internal environment consists of strengths...
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... expenses are categorized as either fixed or variable. The variable costs are deducted from sales to obtain the contribution margin. Fixed costs are then subtracted from contribution margin to obtain net income. This information helps the manager to (1) decide whether to drop or push a product line, (2) evaluate alternatives arising from production, special advertising, and so on, (3) decide on pricing strategy and products or services to emphasize, and (4) appraise performance. For example, contribution analysis involves how to formulate a bid price on a contract, and whether to accept an order even if it is below the normal selling price. Gross margin, found in the conventional income statement, which is sales minus the cost of goods sold, is not useful for this type of decision analysis. Contribution analysis recognises that it takes time to achieve an impact and does not seek to prove an impact before it could be achieved. It provides information on whether a program is likely to achieve an impact. In terms of accountability for outcomes, contribution analysis asks if everything possible has been done to effect the achievement of the intended results and what lessons have been learnt (Mayne, 1999) Break Even Analysis According to Kerin & Petersen 2010, one of the simplest applications of contribution analysis is the break even analysis. A breakeven analysis is used to determine how much sales volume your business needs to start making a profit. The breakeven analysis...
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...Vol. 3, No. 5 Modern Applied Science A Study of an Evaluation Model on Manufacturing Execution System in Paper-making Enterprises Zhihong Xu Key Lab for Paper Science and Technology of Ministry of Education Shandong Institute of Light Industry Shandong 250353, China E-mail: xzh1385@163.com Feng Huang The State Key Laboratory for Microbial Technology Shandong University, Shandong 250100, China Jiachuan Chen & Guihua Yang Key Lab for Paper Science and Technology of Ministry of Education Shandong Institute of Light Industry Shandong 250353, China Abstract Manufacturing execution system (MES) is a production management technology and real-time information system which lies between the enterprise upper layer (ERP) and the bottom layer (PLC/DCS) and faces to workshop layer. MES's concept, its functional model and its important status in the manufacture industry are introduced in this article. Based on the production practice in Kunshan Banknote Paper Mill, an evaluation model of EMS is set up. The model also has a certain reference value to the construction of management information system (MIS) for the relative industries. Keywords: Pulp and paper industry, Manufacturing execution system, Furzzy evaluating method 1. Introduction The construction of informationization has made considerable progress with years of development in domestic paper industry. Large and medium-sized paper-making enterprises has widely adopted Enterprise Resource Planning (ERP) for enterprise production...
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...organisation measure the return on investment of the Leadership Development Programme? The literature which I reviewed is selected to focus on question 3 above. It looks at evaluating training such as leadership and a return on investment to a management leadership-development programme. So how can an organisation accurately define in monetary terms the benefits from implement a programme such as leadership development? The first piece of literature called ‘return-on-investment approach to a management leadership-development programme’ by Nur Naha Abu Mansor supports the argument that it is possible to calculate the return of investment of such a programme however, there are a number of key steps that should be put in place in order to do so. The research advises Human Resource Development specialist to ensure that: • The expectations of the training should be stated • the at the training programme is aligned with the organisational objectives • that sufficient time should be allocated in order to conduct an evaluation • The training programme should have clear objectives The research in this paper talks about the increase in economic growth thereby highlighting the need for investment in human capital. Echols (2005) says that ‘more than 60 per cent of all jobs require the skills and competencies of educated knowledge workers’ and the The Chartered Institute of Personnel and Development CIPD...
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...HOW THE EFFECTIVE PROCESS OF STAFF ANNUAL APPRAISAL ENHANCE THE EMPLOYEES’ SATISFACTION? Abstract The satisfaction of employees is highly important to company. The efficiency and performance of the company totally relies and depends on the satisfied employees. The satisfied employees tend to be creative, initiative, and innovative that makes the organization grow and profitable. In this study investigates the impact of staff appraisal process on employees’ satisfaction, which it is one of the major management tools that affect overall company process, in addition, this research investigates solutions to enhance the process of the appraisal in order to improve the employees satisfaction. ¬ Keywords: staff appraisal, employees’ satisfaction, performance, and efficiency. Overview of Organization The organization that will be the topic of my study is Arab Bank. Arab Bank PLC is one of the largest financial institutions in the Middle East. Established in Jerusalem in Palestine in 1930 as a small bank, it related history is interlinked with that of the Shoman family and its founder Abdel Hameed Shoman, whose personal life reads as an extraordinary tale of success for his time and age. The Bank is ranked amongst the largest international financial institutions, with a rating of A- from Fitch, A- from Standard & Poor and A3 from Moody’s. The bank has a capital base of over USD 5.5 Billion and Total Assets of over USD 50 billion. Pretax Income reached...
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...Grading system versus written evaluations The grading system has been embedded in our education system for many generations now. Students have been assessed based on their knowledge and skill of various subjects based on their performance on a piece of paper. From that, they are awarded grades with A’s being the best signifying superior knowledge and F’s being the worst. Recently however, many have started to wonder how written evaluations instead may be more beneficial and thorough in assessing a student’s performance. Although I agree with written evaluations being a more suitable means of evaluating any student, let us first explore how written evaluations and the grading system vary in terms of providing quality assessment of students, time cost and finally how it may help in the working environment. Both the grading system and written evaluations vary in providing quality assessments of the students. The grading system mainly merely tests on the students understanding and grasp of concepts. However, as information is easily accessed from books and the internet, students may only be memorizing facts and vomiting them out on paper instead of properly understanding what they mean. Moreover, the grading system does not provide valuable input on which areas the students may be weak at and what he or she could improve on. Written evaluations on the other hand however would be provided by teachers that are familiar with the students. They would be able to give insight to the...
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...This article was downloaded by: [The University Of Melbourne Libraries] On: 02 September 2015, At: 02:39 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: 5 Howick Place, London, SW1P 1WG Accounting and Business Research Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/rabr20 Fairness in performance evaluation and its behavioural consequences a Mahfud Sholihin & Richard Pike a b Universitas Gadjah Mada , Indonesia b School of Management , Bradford University , Emm Lane, Bradford, BD9 4JL Phone: +44 (0)1274 234393 Fax: +44 (0)1274 234393 E-mail: Published online: 04 Jan 2011. To cite this article: Mahfud Sholihin & Richard Pike (2009) Fairness in performance evaluation and its behavioural consequences, Accounting and Business Research, 39:4, 397-413, DOI: 10.1080/00014788.2009.9663374 To link to this article: http://dx.doi.org/10.1080/00014788.2009.9663374 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and views of the authors...
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...REPORT ON THE FINANCIAL EVALUATION: MCDONALD'S CORPORATION AND YUM! BRANDS REPORT ON THE FINANCIAL EVALUATION: McDONALD'S CORPORATION AND YUM! BRANDS TAMARA AYRAPETOVA The aim of this paper is to perform financial analysis by using financial ratios and to comment, evaluate, and understand the origins of the results by using the comparison of two companies chosen as a case study. The McDonald's Corporation is the largest fast food restaurant in the world. McDonald's Corporation statistics base it in over 119 countries and it serves more than 68 million customers daily. The company's revenues are coming not only from its primary products like hamburgers, cheeseburgers, etc., but also from rent, royalties, and fees paid by the franchisees. This report will look at the financial statements of the McDonald's Corporation over the past 3 years starting from 2010 through 2012. The author of the paper will apply financial ratios to analyze company's position and to identify patterns and trends. She will then compare the results of the analysis with one of the biggest competitors of McDonald's - Yum! Brands Inc. and the industrial averages. Yum! Brands Inc. is a US based corporation. It includes famous brands like KFC and Pizza Hut in their chain. Currently Yum! Brands are the largest competitors McDonald's has in the fast-food industry. To compare the two companies financial statements will be taken from Yahoo Finance (2013). Unauthenticated Download Date | 12/14/14 11:28 PM ...
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...PERFORMANCE MANAGEMENT SYSTEM Objective: To identify and measure performance variation across selected indicators, link performance with rewards to boost motivation and bring the key performance indicators under a continuous monitoring & control system for boosting organizational effectiveness in the key deliverables to its stakeholders. Structure of the PMS The PMS shall be introduced in two stages; In the introductory stage, only academic performance indicators shall be monitored; From the start of next year, a comprehensive system shall be introduced covering all key indicators for the deliverables. However should all agree, a comprehensive system can be introduced at the start of next semester. The PI’s identified are: a. Teaching: To carry a weightage of 30% and comprise of completion of syllabus, no of tests/assessments, remedial classes, students feedback and diversity in teaching pedagogy b. Results: To carry a weightage of 30% and measured through university results, average marks factored for subject difficulty index and correlation with university pattern and the performance of the branch as a whole. c. Activities related to student deliverables: Weightage20%: comprising of industry visits, industry projects, guest lectures, workshops, social projects, maintenance projects, research projects with students. d. Activities related to organization’s development: Weightage 10%; comprising of admission process, seminars, research grants, tsep...
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