...of the book as applicable. For example, what is involved in the prerequisite stage as outlined in section 2.1 and figure 3.1 Performance management is a management style that has become progressively famous. It includes a procedure in which an organization, association, or foundation makes a workplace that enables employees to work to the best of their capacities. The procedure that a business uses to fulfill this frequently differs starting with one business then onto the next. In spite of these varieties, the execution performance management process, for the most part, includes some type of objective setting, assessment,...
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...and motivation through money values and departments within an organization. (Ryan, 2007) Budgetary control is a major feature of management control system in most organisations. The use of budgetary control in performance management has become more significant especially as a more integrative control mechanism in most organisations (YÜCEL and GÜNLÜK, 2007). Thus, this essay will assess the claim on the effectiveness of the budgetary control as a more integrative control mechanism for the organisations and how non-financial performance tool can be used to complement the budgetary control to provide accurate reporting on the performance of the organisation. Organisational and Budgetary Control In an organisation, the goals and objectives may differ in within each department, division and individual. It is important that every individual has to change their behaviour towards achieving organisation’s objective. (Flamholtz, Daz and Tsui, 1985). The organisation’s primary objective is to earn profits. The management uses financial measurement tools such as Economic Value Added (EVA), financial ratios, residual income and Master Budgets etc to measure the performance of each division as well as motivation and control. (Otley, 1999 & 2002) Hence there is a need to have a management control system for planning, goal setting and performance evaluation. The Budgeting Cycle as shown below is implemented to bring the...
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...Journal of Production Research Vol. 48, No. 17, 1 September 2010, 5137–5155 Supply chain performance measurement: a literature review Goknur Arzu Akyuz* and Turan Erman Erkan Department of Industrial Engineering, Atilim University, Kizilcasar Mahallesi, 06836 Incek Go¨lbasi, Ankara, Turkey (Received 19 February 2009; final version received 2 June 2009) This paper is intended to provide a critical literature review on supply chain performance measurement. The study aims at revealing the basic research methodologies/approaches followed, problem areas and requirements for the performance management of the new supply chain era. The review study covers articles coming from major journals related with the topic, including a taxonomy study and detailed investigation as to the methodologies, approaches and findings of these works. The methodology followed during the conduct of this research includes starting with a broad base of articles lying at the intersection of supply chain, information technology (IT), performance measurement and business process management topics and then screening the list to have a focus on supply chain performance measurement. Findings reveal that performance measurement in the new supply era is still an open area of research. Further need of research is identified regarding framework development, empirical cross-industry research and adoption of performance measurement systems for the requirements of the new era, to include the development...
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...Construction Management and Economics (April 2010) 28, 377–391 Perception of various performance criteria by stakeholders in the construction sector in Hong Kong IVAN K.W. LAI1* and FRANKIE K.S. LAM2 1 2 Faculty of Management and Administration, Macau University of Science and Technology, Macau International Graduate School of Business, University of South Australia, Adelaide, Australia Taylor and Francis Received 8 March 2009; accepted 1 December 2009 10.1080/01446190903521515 All construction projects in Hong Kong have in common a cast of key contract participants, consisting of clients, consultants (designers) and contractors. The aim of this research is to examine, from different points of view, these practitioners in regard to the importance of perceived performance criteria and their respective performance outcomes in a construction project. A research model is structured based on nine performance criteria and their respective performances. The data were collected from 324 practitioners who have participated in construction projects in Hong Kong. One-way analysis of variance (ANOVA) and repeated measures ANOVA are used to analyse the data. The relative importance of nine performance criteria and their performances are measured. Timely completion of the project is the most important performance criterion, followed by profit, environmental protection and quality. There are differences in the importance of the performance criteria with respect to performance. The...
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...Construction Management and Economics (April 2010) 28, 377–391 Perception of various performance criteria by stakeholders in the construction sector in Hong Kong IVAN K.W. LAI1* and FRANKIE K.S. LAM2 1 2 Faculty of Management and Administration, Macau University of Science and Technology, Macau International Graduate School of Business, University of South Australia, Adelaide, Australia Taylor and Francis Received 8 March 2009; accepted 1 December 2009 10.1080/01446190903521515 All construction projects in Hong Kong have in common a cast of key contract participants, consisting of clients, consultants (designers) and contractors. The aim of this research is to examine, from different points of view, these practitioners in regard to the importance of perceived performance criteria and their respective performance outcomes in a construction project. A research model is structured based on nine performance criteria and their respective performances. The data were collected from 324 practitioners who have participated in construction projects in Hong Kong. One-way analysis of variance (ANOVA) and repeated measures ANOVA are used to analyse the data. The relative importance of nine performance criteria and their performances are measured. Timely completion of the project is the most important performance criterion, followed by profit, environmental protection and quality. There are differences in the importance of the performance criteria with respect to performance. The...
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...Assignment Assignment front sheet |Qualification |Unit number and title | |Pearson BTEC HND Diploma in Hospitality Management |Unit 6 Rooms Division Operations Management | |Student name |Assessor name | | | | |Date issued |Completion date |Submitted on | |05th January 2015 |08th March 2015 | | | | | |Assignment title |Rooms Division Operations Management | |Learning Outcome |Assessment |In this assessment you will have the opportunity to present evidence |Task no. | | | ...
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...The Quantitative Research about Griffith University Hotel Facilities Course Name: 1002HSL Introduction to Research Student Name: Student ID: Introduction This report is to assess, from the view of professions in event and facilities management, the importance and performance of the existing facilities in city hotels of Griffith University in order to identify the critical factors in better operation and execution of hotels. The rapid development and expansion of hospitality industry has made hotel industry much more competitive than before, thus, how to promote the operation and execution become a significant issue in surviving in fierce competitive business environment. Among those critical issues of success in managing hotels, the service segment is in particular of importance in that it is directly accessed by customers or travellers and they are inclined to rate hotels on those service (Roger, 2011). Therefore, it is quite necessary to elevation how importance of existing facilities towards guests and the current performance of those facilities in the hotels. The Griffith University Hotel, being operating for a relative long period in the service industry, has established its good reputation and occupied a certain part of market shares. While, it still suffers from threads from low priced hotels and other rivals who are continuingly promoting hotel environment and service. In order to maintain the current volume of guests and probably increase it, the...
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...chain management which brings customer satisfaction and profitability. Many retailers especially supermarkets and grocery stores use different strategies in order to achieve an effective supply chain management. Faced with predictable variability, a company’s goal is to respond in a manner that balances supply with demand to maximize profitability (Chopra & Meindl, 2013: 247). Inventory management is the activity of planning and controlling accumulation of inventory which occurs because of local mismatches between supplier and demand (Slack, et al. 2012). Inventory management is one of the building blocks of total supply management and a good indicator of the effectiveness of supply chain management (Basu&Wright, 2008) Stock rotation is an innovative inventory management practice, commonly used in retail, especially in food stores such supermarkets and groceries, of moving products with an earlier sell-by date to the front of a shelf and of moving products with a later sell-by date to the back. (Gustafsson et al. 2006). In this assignment, it is going to be analysed how 7-Eleven achieves the performance objectives; cost, dependability, flexibility, speed and quality via innovative inventory management and stock rotation and further compare this using the importance-performance matrix. The author studied industry journals, including a case study of 7-Eleven’s, and emphasised the impact of stock rotation and inventory management on supply chain management. ...
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...how well BWI HR is meeting the needs of its employees. Fifty surveys were collected and reviewed. One each survey were eight HR services. The HR services are Performance Appraisal, Wage & Salary Administration, Incentive Pay Program, Internal Job Posting, Healthcare Insurance, Technical Training, Career Counseling/Development and Flexible Work Schedule. Each of the HR services had a rating scale to see how important and satisfied the Target employees would rate them. There were three HR services that showed the largest gap between importance and satisfaction. The incentive pay program, performance appraisal system and career counseling and development all showed large negative gaps. The incentive pay program should be changed from an individual-based program to a team/group-based program. The performance appraisal system should evolve into a “social network” type of performance management system. This type of social performance management system will bring many advantages, including empowerment. Finally, the career counseling/development programs should see a small expansion and reviews of the eligible degrees, adding certificates, increasing the tuition reimbursement amount and adding mentoring programs. These improvements should be implemented to improve the HR services, our people and our overall company performance. Introduction The HR department is proud to provide a wide array of services to our excellent people that make this company great. As the needs...
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...Journal of Diversity Management – Second Quarter 2010 Volume 5, Number 2 Impact Of Job Analysis On Job Performance: Analysis Of A Hypothesized Model Rehman Safdar, Pakistan Electronic Media Regulatory Authority (PEMRA), Pakistan Ajmal Waheed, Quaid-e-Azam University, Pakistan Khattak Hamid Rafiq, National University of Modern Languages, Pakistan ABSTRACT Researchers have developed a relationship between HRM practices and organizational performance, but the relationship between HRM practice like job analysis – employee Job performance remains unexplored. This paper, based on a study of employees of Pakistan Public sector regulatory authorities of telecommunication, oil and gas, power, media, security exchange, banking sector and organizations being regulated by these authorities is an attempt to develop and test a hypothesized model linking HR importance of job analysis with employee job performance. Survey results of 568 employees indicated that practice of job analysis was strongly related to employee job performance. The findings suggest that an organisation-wide policy of job analysis is an important source of competitive advantage in its own right, and requires due attention of HR professionals. The study extends the findings of the HR–employee job performance research pursued in Western countries to a non-Western context. Keywords: Human resource management; HR practices in regulatory authorities; HR-performance linkage; Job analysis; Job performance; Job satisfaction;...
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...Chapter 2 Review of Related Literature This chapter is divided into four parts: (1) Co-curricular Activities, (2) Time Management, (3) Academic Performance, (4) Tourism Education. Part One, Co-curricular Activities, presents the definition, role of co-curricular activity in student, scope of co-curricular activity in school, its importance and benefits. Part Two, Time Management, discusses how to manage your time wisely, its effect in academic performance and co-curricular activities, why time management is important, and its benefits. Part Three, Academic Performance, provides meaning or definition, importance of academic performance, positive factors affecting academic performance, and the factors resulting to academic performance failure. Part Four, Tourism Education gives the definition of tourism education, its importance, information about tourism education. Co-curricular Activities According to Mc Kown (1952) these activities are as old as education itself. They wereknown as used in different forms under different educational settings.The history reveals that the term was called Extra-curricular Activities before four-five decades. It includedathletics, music, oratorical competitions, clubs for students, debating, dramatics, honour awards, special day celebrations etc. These activities were organized mostly by the students themselves. “Co curricular activities were mainly organized after school hours and so were the extra curricular but they are not an integral part...
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...yTHE IMPORTANCE OF PAY IN EMPLOYEE MOTIVATION: DISCREPANCIES BETWEEN WHAT PEOPLE SAY AND WHAT THEY DO Sara L. Rynes, Barry Gerhart, and Kathleen A. Minette A majority of human resources professionals appear to believe that employees are likely to overreport the importance of pay in employee surveys. However, research suggests the opposite is actually true. We review evidence showing the discrepancies between what people say and do with respect to pay. We then discuss why pay is likely to be such an important general motivator, as well as a variety of reasons why managers might underestimate its importance. We note that pay is not equally important in all situations or to all individuals, and identify circumstances under which pay is likely to be more (or less) important to employees. We close with recommendations for implementing research findings with respect to pay and suggestions for evaluating pay systems. © 2004 Wiley Periodicals, Inc. It is easy to overestimate the frequency with which adults actually go to the opera and underestimate the frequency with which they watch TV cartoons on Saturday mornings, based on their self-reports. (Nunnally & Bernstein, 1994, p. 383) Rynes, Colbert, and Brown (2002) presented the following statement to 959 members of the Society for Human Resource Management (SHRM): “Surveys that directly ask employees how important pay is to them are likely to overestimate pay’s true importance in actual decisions” (p. 158). If our interpretation...
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...The Performance of a Corporation The performance of a corporation is an extremely important aspect in how a company is perceived. Every employee must demonstrate a correct form of professionalism in order to give the corporation a respectable name for it. Otherwise the creditability of the corporation may be hindered. According to Brealey et al., the market value of the company’s shares reflects investor’s expectations about future performance. Investors pay attention to current profits and investment but they also avidly forecast investment and growth. In correlation to Scripture, God expects us to work hard in every aspect of our lives. Ecclesiastes 9:10 states, “Whatever your hand finds to do, do it with all your might, for in the realm of the where you are going, there is neither working nor planning nor knowledge nor wisdom.” And in Ephesians 6:7 it states, “Serve wholeheartedly, as if you were serving the Lord, not people.” These verses ties in how we are to perform highly everyday. When seeking God’s counsel with our whole heart, we are exemplifying him to world. This applies working for His kingdom and for our employer. If we are not to give God work that is lackluster, that means we cannot do the same our boss. Low performance ratings affect the corporation as a whole. Ensuring that things are ran smoothly, corporate performance management monitors improves the capability of a business. Providing three important values to the business; information delivery, performance...
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...Time Management ProcessPolicy.com Definition Time Management is the process of planning and allocating time for specific work related activities to increase employee efficiency and productivity. The Business Value: Increased employee efficiency and productivity PP The Value Time Management enables the effective management of employee's time using accurate working time recording, monitoring and analysis. Only through analysis of the data that you can begin to understand employee behavior, identify working trends and discover where work can be made for efficient. Time Management Strategies An employee's behavior in performing a list of tasks, whether simple or complex, is described as a queue processing strategy: * First In, First Out (FIFO) * Cycling Downhill * Prioritizing by Importance * Prioritizing by Urgency First In, First Out (FIFO) This strategy describes the principle of ordering the tasks in order of their arrival. Cycling Downhill This strategy describes the principle of a completing the most difficult task first, then the next most difficult task following in the list, and so on. The effort spent on the completing the top difficult tasks enables an easier and less stressful effort to complete the rest of the tasks. Prioritizing by Importance This strategy describes the principle of a completing the most important task first, then the next most important task following in the list, and so on. Prioritizing by Urgency This strategy...
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...Int. J. Services and Operations Management, Vol. 7, No. 4, 2010 465 An AHP framework of supplier evaluation with reference to high-value and critical items: a case study Debadyuti Das* Faculty of Management Studies University of Delhi 110 007 Delhi, India E-mail: debadyuti_das@yahoo.co.in *Corresponding author Deepak Barman Faculty of Management Studies Banaras Hindu University 221 005 Varanasi, India E-mail: dbarmanbhu@rediffmail.com Abstract: This study developed a simple two-stage decision framework for evaluating suppliers of high-value and critical items with reference to a heavy engineering organisation by employing the Analytic Hierarchy Process (AHP). The first stage involved examining the qualifying criteria of the items on quality, while the second stage was concerned with identifying all other relevant attributes, including quality concerning high-value and critical items applicable to the organisation under study, and with finding out the relative importance of the same. The attributes were organised in a two-tier hierarchy showing four major criteria in the first tier and 17 subcriteria in the second tier. This enabled us to employ AHP to find out the relative importance of each individual subcriterion through pair-wise comparison between all major criteria and subcriteria by eliciting opinions from three experts. The findings indicated the quality/reliability of the items to be the most important criterion, followed by price and then technological capability...
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