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    Purposes of performance management

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    Define the three broad purposes for performance management, and provide an example of a situation that relates to each purpose.

    Use at least 75 words in length. All sources used, including any textbook, must be referenced; paraphrased and quoted material must have accompanying citations in APA format.

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    Step 1
    The first purpose of performance management is to evaluate the progress of the firm towards its desired goal. The purpose of performance management is to ensure that business objectives are achieved (Mike Bourne, Monica Franco, John Wilkes, 2003). For example, the business objective of a firm is to increases its sales by 10%. Performance management compares the actual sales with the targeted sales and takes corrective measures if required. ...

    Solution Summary

    Goals and objectives of performance evaluation are discussed step-by-step in this solution. The response also has the sources used.