Week 8: Performance Management Flashcards
What is performance management?
identifying strengths and weaknesses, and revealing how overall organizational performance can be improved
the degree to which the organization and those working within it accomplishes its goals… a system for ongoing analysis connecting achievements in employee performance to the strategic direction and performance of the overall organization
Performance has a variety of context-dependent dimensions, what are they?
- results/outputs
- inputs
- time period
- specific contributors to competitive advantage
- assessment of inputs as they relate to outputs
- human factors
what are KPPs?
Key parameters of performance
- situation-specific – mission, organization size and complexity and staff
What are KPIs?
key performance indicators
- quantifiable goal achievement outputs – sales revenue, number of new memberships, transition time between games
what are the 3 performance management approaches?
- input-output perspective
- scorecard approach
- stakeholder management –> “partner management”
what are input measures?
resources being used (cost, time skills)
what are output measures?
what is produced (e.g., profit, level
of satisfaction, playing time,
memberships)
what are Input-output perspectives?
Amount of outputs
achieved from inputs
What are the 4 scorecard approach dimensions? explain each
- Financial perspective — sales, cash flow, return, profit
- Customer perspective — market share, sales, retention, satisfaction
- Internal processes perspective — systems, plans
- Learning perspective — re-skilling employees, enhancing IT
What is Stakeholder management
Stakeholders —> partners
- people or groups who affect or are affected by the organization
- if a stakeholder are satisfied with the organizations performance, then it is doing well
