1. Explain at least 2 purposes of performance management and its relationship to business objectives: The performance management aims to create a culture which encourages the continued improvement and development of the organization and of the individual behavior, skills and contribution. Performance management process is an important component of the overall working approach. In terms of the basic delivery of outputs, as well as to enable one employee to be expected fully to know performance within the scope of the performance management system, the aim of performance management to achieve to following: to enable the individual to understand what exactly to achieve in terms of output and relevant, and in appropriate behavior style, which an individual employees objectives to agreed delivered to simplify and to meet personal development which needs to facilitate the delivery of the agreed objective. It enables the
STRATEGIC PLANNING Strategic planning is a comprehensive process which includes everything which a business should become and how best it can achieve that goal. Basically it links the business objectives to the actions and resources required to achieve them. While doing this it offers a systematic procedure to ask and answer the most critical questions faced by the management team. DEFINITION George Steiner defines strategic planning as “the formulation of basic organizational mission, purpose and objectives; policies and programmes to achieve them, and the methods needed to achieve organizational ends. WHY DO COMPANIES USE STRATEGIC PLANNING PROCESS?
Planning is vital for initiating the project on time. Many projects fail to materialize as a result of poor planning and weak assumptions (Mrsic, n.d.). A project manager should outline a clear and precise plan which will be use to direct the control and execution of the project. However, a project plan is not written in stone and it may need to be updated over time (Mrsic, n.d.). 2.
• It is on objectives that strategic decision-making is based: Objectives, by directing the attention of strategist to those areas where strategic decision-making is required, lead to desirable standards of behaviour and, thus, facilitate strategic decision-making process. • Objectives lay down the standards for evaluating individual as well as organisational performance: Objectives provide the standards for performance appraisal by stating targets to be fulfilled in a given time period and the measures to be taken to fulfill them. If there are no objectives, an organization will not have a clear and specific basis for performance appraisal. Managers who specify objectives for themselves and their organizations are more possible to fulfil them than those who do not. We can summarize the significant role that objectives play in strategic management in the following axiom: if one does not know where he has to go, any path will take him there.
It’s a both exciting and challenging task to be a restaurants manager. It requires effort, business and hard work to successfully make a restaurant run. Understanding how to put every resource in position in your favor may help your business raise, bring in a lot more clients and hence result in bigger profits. Step 1: Let workers understand what your expectations are. The job description for workers must be completely outlined during the time of employing.
Understanding the strategic objectives in performance appraisals can help one adapt performance evaluations to meet company needs. Some of the ways through which performance appraisal can help in achieving strategic objectives may be through: improving morale and staging goal setting strategies. Goal setting is one of the most important and basic elements of strategic objectives. It is aimed at reaching the company’s ultimate objectives. Goal setting strategies can be metrics established for performance, or a percentage increase in revenue dollars.
This is timeline of the project from its design to the operational stage. For example, the team is required to allocate time to each development stage and ensures that all requirement and development of the project is done within the stipulated time. Provision of timeline is important in project development because it helps project management team to countercheck the progress of the development (Carr, 2009). At this stage the project planning team is mandated to consider labour required towards the development of the project. These will include number of managers, supervisors and workers needed for the project development based on the number of activities involves in the project development.
Its intensions are for the outcome to: please all stakeholders, be completed within budget and schedule, meet all the requirements and be flawless. A project is a success when perceived value of the result is considered Hussein (2013:1-6) and will therefore not only include the effective management of the triple constraint (time, budget and performance) associated with the execution of a particular project (Robert and Albert 2011: 103-113). A holistic approach of sustainable leadership in the quest to achieve project success should be assessed on the grounds that research has shown that sustainable leadership brings about greater sasfication and results than having non sustainable leadership. (Avery & Bergsteiner, 2011:
It also aids to monitor and evaluate a project. It helps to organize work and allocate responsibilities. It also includes the time aspect to all the activities and forms a basis for coordination and control throughout the project. Areas of planning are: · Work planning: project will be subdivided into different tasks and the completion will be scheduled in a sequential manner · Resource planning: Man power needed for a project will be estimated and based on the organizational structure approach, resources can be reassigned to various projects based on their expertise. · Cost planning: Expenditure incurred and the projected income will be budgeted · Technology planning: Technology required to manage and monitor the project will be defined.