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Concept Of Performance Management
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Marks and Spencer's Definition of Performance Management
Performance management provides Marks and Spencers with needed
information on their employees. The information helps Marks and
Spencers develop the skills of the employees based on the information
collected at the appraisal, it helps recognise when training is
needed. Performance management helps M&S by improving their service by
having able workers that work to their full abilityand by improving
the relationship between workers and the company.
Here is Marks and Spencer's definition of performance management:
Performance management is a joint process that involves both the
supervisor and the employee, who identify common goals, which are
linked to the goals of the organisation. This process results with the
establishment of written performance exceptions later used as measures
for feed back and performance evaluation.’
A appraisal system is carried out evrery 12 months at Marks and
Spencer's. An appraisal system is when discucsions are made with
members of staff about what is going well, what can be improved and
how they would which to develop and other suggestions form workers.
These meetings are done by manager of M&S for the employees and are
confidential.
A review plan is used at M&S to measure productivity. This form shows
if the workers have met the targets set at the meeting, for example is
a person at chashier as a set target to scan a certain number of
products every hour the review plan willshow if it was complete. This
is called scan rate operate targets. Performance Management at Marks
and Spencer's refer to this data to make sure targets are met, and
that all the workers are doing well. If targets are not met M&S can
set out courses of action to fix the problem for example giving the
workers more training. tHis isthelink between performance management
and training and development.
Performance-related pay
Performance related pay is when a business increases the pay given to
workers by the amount of effort put in, for example if an individual
or a groupof orkers meet all their targets and improve the quality of
will have to make sure that they get enough profit to be able to open
Business strategy is the means by which firm’s plans to achieve its goals and objectives. It can also be termed as organization long-term planning. The strategy covers periods between 3-5 years and sometimes longer. Businesses use two major types of strategy, general or generic and competitive strategies. The overall strategy involves strategies of growth, globalization and retrenchment. The competitive advantage includes low pricing, product and customer differentiation. We will look at the business strategy used by Marks and Spenser (Cole, 1997). The company is a British multinational located at Westminster London and specializes in clothes and luxurious food products.
The purpose of this section of this report is to define the marketing concept; to explain what it means to be a market-orientated organisation; and to show that Tesco’s appear to be a successful, market-orientated company. Furthermore, that Tesco’s employ strategic relationship marketing to offer value to customers’; and achieve higher revenues and brand loyalty in return. Finally, to explain that being market oriented may also have some disadvantages if not carried out effectively.
Marks & Spencer is one of the UK's foremost retailers of clothing, foods, homeware and financial services, boasting a weekly customer base of 10 million in over 300 UK stores. Marks & Spencer operate in 30 countries worldwide, and has a group turnover in excess of £8 billion. It has specific values, missions and visions. It’s main vision is ‘to be the standard against which all others are measured’, it’s main mission is ‘to make aspirational quality accessible to all’, and it’s main values are quality, service, innovation and trust. (www.marksandspencer.co.uk).
did not reach the stores until late august by when it was too late. This meant
This report will investigate the British retailer Marks and Spencer. It will analyse why decision making, planning and goal setting are important to the organisation. Decision making is a process of identifying problems and opportunities then resolving them. Mission planning is the way that organisations aim to achieve their goals. All organisations have goals, these are the reasons that the company exists. Boddy (2005:178) states “A goal is a desired future state for an organisational unit. Goals provide a set of detailed objectives for an organisation’s desired outcomes”. Within this report there is a brief outline and history of Marks and Spencer. It will then look at the missions and goals of the organisation and will go on to critically evaluate planning and decision making processes that the organisation could be using. To conclude it will summarise the findings.
Managers face difficulties in trying to understand the encionment. First ¡°the environment¡¯ encapsulates many different influences; the difficulty is making sense of this diversity in a way which can contribute to strategic decision making. The second difficulty is that of uncertainty, managers typically claim that the pace of technological change and the speed of global communications mean more and faster change now than ever before.
Performance related pay is a financial reward given to employees whose work is considered to have reached a required standard or is above average. “PRP criteria can relate to the individual employee, to work groups or to the organization as a whole” (Armstrong, 2002). It is fair to provide people with financial rewards as a means of paying them according to their contribution (Armstrong 1993:86). The primary purpose of performance related pay in any organization is to recruit, retain and motivate the workforce. It also helps in focusing employees’ minds on particular goals (Protsik, 1966); communicate to employees an organization’s core values, and change the culture of that organization (Kessler and Purcell, 1991).
Preview: This book provides a lengthy indoctrination of the what and why of performance management. This summary will cover both the pragmatic and practical pieces of the text; while excluding some of the specific instruction for those who oversee the overall orchestration of performance management in the workplace. The purpose of this paper is to allow its readers to grasp some main themes of performance management and develop a vocabulary for discussion and debate of the topic.
Performance management aims to manage and improve individual performance with a vision to improving performance across the entire business. [Walter. M, 1995] defines performance management as the process of ‘Directing and supporting employees to work as effectively and efficiently as possible in line with the needs of the organisation’. It is very important to direct and support employees to work efficiently, and this can only be successful if a well-structured performance management system is put in place. But, nonetheless some organisations don’t get it
This situation analysis focuses on the suitability of Marks and Spencer in Holland and the necessary factors the company has to take into account before venturing into this market. The market has several advantages which Marks and Spencer can tap into going by the level of success it has experienced in the UK. The company can focus on developing a clothing product line that appeals to young, urbane and career individuals who are not afraid to try out new concepts. These products can be for both sexes with special focus being given to individuals of the ages 15 to 50 of both genders who are conscious of how they look and how people perceive them through their manner of dressing. The majority of the country’s population are aged 25- 65 (Knijn, T., & Rijken, A., 2003, pp. 3-4).
This makes all employees across all divisions equal when it comes to performance and development planning. Also, by implementing categories for each employee, supervisors can use the scoring system to see exactly where gaps and weaknesses are in the team. Once gaps and weaknesses are identified, performance and development planning can be constructed accordingly. Basically the new performance management system allows supervisors of the organization to identify, address, and resolve any sort of employee performance issues or concerns. This can lead to higher buy-in of the organization, and an increase in overall
Performance management is a management tool used to value, monitor and measure a company’s strategies that ensure the efficiency and effectiveness of its product delivery. This management tool does not focus on the organisation and on its employees as well as stakeholders. It is a continuous process that entails that managers make sure that organisational and employee values are corresponding (Aguinis, 2005,p.1/2-1/5). Performance Management brings about the competencies in the employees, increases self-esteem by giving feedback to employees, there is a low number of lawsuits because it helps understand the company better (eThekwini Municipality, 2008,p.10-11). According to Pride, Hughes and Kapoor (2011, p.288) performance management creates motivation for employees; one theory of motivation is of Expectancy, which stipulates that employees satisfaction is driven by expectations of what an organisation will offer in return.
Performance management is a process that guarantees an organisation and all of its available resources are working collectively and effectively towards achieving the organisation’s mission or goal. Performance management affords an understanding of what drives an individuals, and even organisations, performance at all levels. An understanding of performance management allows for the identification and minimisation of unproductive areas of an organisation, as well as an ability to predict future performance. It is a powerful tool that can be used by managers at all levels of an organisation to help improve a company’s productivity.
The manager communicates with the members of staff individually on a regular basis providing all the necessary information about the employee’s overall performance as it relates to their roles in the workplace. This performance appraisal is beneficial to employees as it allows them to create an outline for their goals with the greatest effort it should not be used to lower the employee’s level of motivation but seek to increase it.