It is now time to apply concepts, techniques, and the understanding of financial information to internal performance evaluation. The task for the final Case is to design an internal performance evaluation system. Refer to background material throughout the course and feel free to do additional research as needed.
Write a memo to the CEO outlining the performance criteria, the reasons for selecting the included criteria, and both advantages and disadvantages of stated criteria and the system as a whole.
State the industry or type of company for which you are designing the system.
Financial information must be part of the evaluation, but does not have to be the only criteria.
What is the main purpose of the evaluation system?
How will the performance evaluation system benefit the organization?
How will the performance evaluation system benefit managers being evaluated?
Does the organization have the needed data in place, or would the proposed system involve creating new classifications and/or reports?© BrainMass Inc. brainmass.com October 2, 2020, 4:34 am ad1c9bdddf
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Subject: Performance Criteria for a new internal performance evaluation system
Performance evaluations are a key to success for present organizations. Today most of the firms operate in a competitive environment and find it really difficult to attain competitive advantage over their competitors. In this kind of environment, one key tool in regard to attaining competitive advantage is performance evaluations to direct employees towards focusing on continuously improving their performance and work at their best (Colaprete, 2007). Today, employees are an asset to firm, and everyone emphasizes on recruiting and selecting highly skilled and talented employees. Recruitment and selection, is not only sufficient to improve employee performance on a continuous basis, as it requires an effective performance evaluation system to be in place and work effectively (Daft, Daft, Murphy & Willmott, 2010).
Performance can be evaluated internally as well as externally. For evaluating the performance of a manufacturing firm, which manufactures automobile parts, the performance evaluation system effect is an internal performance evaluation. A manufacturing firm, if not able to control its performance, would not be able to serve its large automotive clients throughout the globe. A manufacturing firm can attain success, only when it is able to improve its productivity on a continuous basis, and it can be done only when it has an effective internal performance evaluation system ...
Performance evaluation designs are examined. A memorandum tutorial is provided.