Issues in Employee Performance Essay Example | Topics and Well Written Essays - 2250 words

Issues in Employee Performance - Essay Example It will use as an example a purchasing manager to clarify the arguments. The essay will refer to key issues in performance management such as strategic planning, aligning staff goals with organisational goals, dealing with underperformance, and employee development. Performance management has been defined as ‘‘a continuous process of identifying, measuring, and developing the performance of individuals and teams, and aligning such performance with the strategic goals of the organisataion† (Aguinis, 2009, p.2). Performance management process is carried out through: planning, goal setting, monitoring, providing feedback, analysing and assessing performance, reviewing, dealing with under-performers, and coaching (Armstrong, 2009). The entire performance management system will be adversely affected in cases of poor implementation of any one of them (Aguinis, 2009). According to Armstrong (2009), performance can positively affect organisation, allowing it to concentrate on future plans and can be a factor in organizational culture. Purchasing performance evaluation is â€Å"the quantitative or qualitative assessment over a given time towards the achievement of corporate or operational goals and objectives relating to purchasing economics, efficiency and effectiveness† (Lysons, and Farrington, 2006, p634). The significant words in this definition are illustrated in Table 1: Evaluation is a more accurate term than performance measurement. Although the performance of purchasing managers is usually assessed by means of objective, quantified measures such as cost/price reductions and contributions to added value or profitability, performance evaluation frequently uses subjective, qualitative assessment approaches Efficiency covers the relationship between the output of goods or services and the resources used to produce them, which means spending well. Effectiveness covers the relationship between the intended

Business Plan Essay Example | Topics and Well Written Essays - 2500 words

Business Plan - Essay Example He considered today’s emerging potential for retail business and the customer orientation towards buying a product after seeing, touching and try them. The firm has found potential huge for its product to sell. The main advantage is the down town city location that could fetch good customers for its product Buster initially has an objective to expand its business operations by starting one more new store after duly considering the cost of expansion, available labour, customers etc and to own a chain of 10-15 stores in downtown office building. It is planned to increase the sales by minimum 15 percent against the present sales of $1, 50,000 to $3, 00,000 and revenue by 20-25 percent. He has a plan of delivery of products at home points after three years of its operation in the new location to boost the sales and build the client base further. The expansion programme requires the new investment amounting to $20200. He is investing only $3000 out of his savings and rest of the investment is mobilized in the form of bank (long and short term credit), sundry creditors and finance creditors. The new store needs more inventories, computer, printer, Fax, and a Phone to make it more efficient and profitable. Jones employs two workers considering their professional outlook in managing retail stores, their qualification and their attitude for adjusting to the changing environment. Though there are big retail shops offering varied products in the location, but there is no threat for customers visiting Busters. There are few such small retail stores offering similar products in the vicinity posing competition. But he did not consider it seriously as competition since there is growth of retail business at a rapid pace. However this competition can be managed adapting to value based customer service and ensuring customer delight. Jone’s vast experience in doing this