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Performance management instrument
Performance management instrument
Performance management case
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Performance management is the awareness of every individual having an invested interested in the firm or company they work for, after all, it takes more than machines and software to run a firm, it takes people (Nassar, 2007). In addition, it is people that generate 84% of the effergy; furthermore, it is the power that supports the machines that can run 24 hours a day without tiring or the computer that accounts for a multitude of application that function with precision (Nassar, 2007). In this discussion, we will look three important points about Walgreens Boots Alliance/Rite Aid (Walgreens Boots Alliance,2018) from an empirical position as follows; first, a discussion about training for employees, secondly, a look at three different teams I work with, and thirdly, the support the team receives (Nassar, …show more content…
The answer would be "support," it is essential that a supportive administration engages and reaches out to its performers (Nassar, 2007). For example, on issues concerning training, administrative support or management can aid and strengthen stores by allowing the managers to work at the larger stores that house more staff to complete longer computer training (Nassar, 2007). This would prevent frustration those that manage the smaller stores and open up an opportunity to befriend and learn from the larger staff (Nassar, 2007). In addition, this would also allow those who have the comfort and privilege of working in the performance store an opportunity to experience the heavy responsibility of the smaller store (Nassar, 2007). Lastly, feedback is important, this would be an opportune time for staff that has just experience a different environment and a different set of pressures to remark and even points out what they see as a needed improvement for their store and the bigger store (Bititci, Cocca, & Ates,
This paper draws on primary source information provided by 2014 Walgreens Annual Report, 2013-2014 Alliance Boots Annual Report, 2014 CVS Annual Report, and published prescription reimbursement rates of England, France, and Germany. Additionally there is secondary source material. As the first firm to ever state that their firm’s definition is that they are the first global pharmacy-led, health, and wellbeing Corporation, the literature review on the subject is not even present. Thus this literature review is of the inputs that comprise how can Walgreens Boots Alliance make the global healthcare delivery model profitable?
Walgreens was founded in 1901 measuring 50 feet by 20 feet by Charles R. Walgreen, Sr.. Mr. Walgreen was born near Galesburg, Illinois and his family later relocated to Dixon, Illinois at town about 60 miles north of his birthplace. Mr. Walgreens’ father was a farmer who turned into a businessperson and saw a great potential of the Rock River Valley (Walgreen, n.d., p.1). At age 16, Charles Walgreen had his first experience working in a drug store. He didn’t always have pleasurable experiences but it was a job with pay. He had an accident at a shoe factory that cut off his left middle finger from the top joint. This injury also stops him from playing any sports at school. After a year and a half with the drug store, Mr. Walgreen left to pursue something bigger in the big city-Chicago.
Since 1901, Walgreens has had a strong passion for customer service. The founder, Charles Walgreens, goal was to create a drugstore that was like no other. He said that for as many drugstores as he had worked at, he had never worked for one that had a focus for good customer service and low prices. Walgreens has grown by leaps and bounds since 1901 and is now recognized as the leader in the market with over 7000 stores. Charles Walgreen had an eye for good managers. He said he was able to pick people that he knew were smarter than him so to promote them and make them the heads of his drugstores. As a store manager, not only is it your job to run a store which includes ordering, customer care, and inventory control, but also it is your job to manage the staff. As a part of managing staff, it is their responsibility to hire, train and develop, and terminate if need be. While there are many jobs to choose from when it comes to HR and employee staffing, I choose this one because it is by far to me the most intense.
CP has two concerns, first, establishing a stronger organizational system that will unite both locations, and second, how to effectively manage a growing number of employees. Because of their lack of experience in operating multiple stores, CP has retained Management Improvement Consultants, LLC (MIC), to develop and purpose a new organizational and control system for their newly expanded business.
a. Basically, corporation strategy demonstrates a corporation’s overall direction in the light of its general mindset toward growth and the management of its businesses and product portfolios. There are three crucial categories, which are stability, growth, and retrenchment, that involve within corporation strategy. Additionally, business strategy often occurs at the business unit or product level, and it highlights the improvement of the competitive position of a company’s products and service in the particular market segment served by the business unit. Competitive and cooperative strategies are two main categories that match within business strategy. Furthermore, functional strategy is the method that through a functional area to
When Jim Kilts showed up at Gillette in 2001, the first outsider to run the Boston-based company in more than 70 years, he found a business with great brands losing market share. Its acquisitions of Duracell and Braun were not delivering. Sales and earnings were flat, the company had missed its earnings estimates for 15 straight quarters, the stock had plummeted, and Wall Street had lost patience. Yet two-thirds of the top managers were getting top ratings. People were being rewarded for effort; performance, under Mr. Kilts regime, became the new measure.
Target’s core employee development strategy is to embrace, teach, and model concrete behaviors that will lead to higher levels of individual and system performance and excellence. Some of these objectives include teaching employees to perform at the highest level in a current position, manage internal and external environmental changes, increase promotability, and contribute directly through all outputs towards to common company goal. Each position in the company has a set list of guidelines for core behaviors and expectations. This set of guidelines are used to measure each individual employee and the achievement of these goals can help these employees progress their careers at Target. Linkage to performance plans also help in the development of employees. In these performance management training sessions, HR staff help employees develop a sense of understanding about the core values associated with striving for excellence, obtaining results, and other characteristics of high-performing organizations. Employees learn to communicate these core behaviors, and this gives all employees a clear understanding to what it takes to be a high performer. Another very important aspect for Target leadership is to identify and develop future positions. This creates back-ups for each position in the store to ensure seamless transitions if a current employee leaves or is terminated. Performance management is measured not only on individual employee basis, but also by the company as a whole. We will observe the company’s performance compared to its biggest rival Walmart. Based on recent stats we were able to compare the two companies in several aspects as
Costco is one of the companies that have started from humble beginnings to become one of the most recognized institutions in the wholesale industry. Based on the Costco case, there are valuable lessons I have learned and the look of things is that Costco is here to stay. One of the insights I have gained from the Costco case is that organizations should understand their value chains and focus on their strengths to drive competitiveness. Another lesson that I have learned is that information technology can be used by organizations to improve their levels of competitiveness. Also, the Costco case study has enabled me to realize that the management of organizations should constantly evaluate the impacts of the strategies they employ because it is through such evaluations that the best practices can be adopted to improve the performances. Costco has applied these aspects in its different areas of operations, and they have advanced the organization since its inception days to present. From the strategic management practices, the organization has grown from strength to
Some core competencies that must be exploited are: Brand Kmart is an existing well-known and trusted national brand in USA Kmart has private label and designer clothing that is well endorsed Infrastructure Kmart has a large number of well-located, low-cost, leased stores in urban far away from competitors through out the country ( Appendix B ). Staffing Confidence by the market in Kmart is created by the achievements of its staff and management. With the turn-around strategy in place, new blood has been put into the top management structures. In any renewal there will be retrenchment as unprofitable stores are closed. This can be used as an opportunity to retain and move high performing staff to where they are needed and to get rid of non-performing staff. Anderson the chairperson of Kmart is well supported by Wall Street and the board of Directors. These new staff members enter the company with needed skills to address problems in certain areas that previously were poorly managed such as inventory control and merchandising. Store locations, layout and Performance Stores conveniently located away from competitors like Wal-mart and Target therefore less to compete for customers face-to-face. There are 250 non-performing stores who have already been identified as being more cost effective to close than continue with running costs. Expertise exists in-house for the planning of store layout and appearance to meet different customer segments. This concentration of effort will enable focus on key areas Technology Kmart has already invested in good retailing systems. The system can be use to control inventory, supplier payments, track customer buying and monitor income versus profit margins across all stores. Research and Development The planning department is well established and in cross-functional to provide various perspective. The planning department to ensure that strategies at all levels are executed can further use the access to past data and knowledge of changes in buying patterns. Financial Backing JP Morgan Chase has agreed to support Kmart to avert the current threat of closure due to bankruptcy.
Investment in training will be able to improve Walmart’s financial position. Training can bring resolution to reduced performance issues by clarifying the particulars of the job. This will diminish doubling of efforts in the workplace, the period spent fixing slipups and the problem solving required to right bad performances. Enhanced performance from management training can lessen employee turnover, decrease repair expenses by reducing equipment failures and end in smaller amounts of customer grievances. Better performance from employees will naturally create little need for supervision and bring improved
Management experience will also play a large role in the success of the forecast. The current team is quite new and will gain some needed experience over the next year in the hopes of staying on track for success. The ability of management to ensure product is readily available for the client, their training techniques with new and seasoned associates, and general management style will ensure success or spell defeat for the store.
Performance management issues can be fixed by maintaining close supervision, setting high standards, but also focusing on developing employee skills needed to reach them. A good manager is the one who helps their employees to identify and to focus on their most important objectives, goals, and desired outcomes; is the one who identifies the strong abilities in the individual, and shows a clear path to follow. Companies’ ethical focus, -and Walmart is not the exception- should be not only reviewing employee’s performance, but helping them to grow at all levels, creating an environment that energizes and motivates human beings and
First, in relation to the organization’s most important asset, people, Sears has failed to recognize the distinctive competences that lie in the skills and abilities of their own employees. Sears once was a very successful organization in relation to how they treat their employees. Sears was one of the pioneers of measuring employee engagement in the retail industry by creating a set of measures known as Total Performance Indicators. People who enjoy going to work every day, as a result of a high-performing company culture, increases their productivity, giving them a higher return on salary. This model of employee engagement worked very well for Sears in the past, however, in recent years, Sears has strayed away from this core competency.
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 continuous process that creates a working culture to encourage employees to improve their work performance and reach their full potential during their stay of employment. Performance Management also provides strategic direction, develop competency in employees and instill organization value. This paper will identify methods and affects that performance management plan has on the organization and their employees.