NMIMS BBA – B.Com Performance Management System Solved Answer Assignment
14
Oct
2024
Performance Management System
Q.1 Illustrate with example, how to write SMART Goals. (10 Marks) –
Introduction:
Suppose you have distinct objects based on certainty. Goal setup is crucial for any company or facility; it has become much easier to succeed. It is a supportive method to achieve new milestones. By establishing objectives and creating a clear plan for exactly how you will realize your desired aim, you can choose the course to utilize sources and periods to achieve success. Without establishing objectives, it will be more testing to determine precisely how to finish the task and how the goal will be obtained.
Concept & Application
How to write SMART Goals:
A SMART goal is a sensibly engaged, specific, and countable objective. When you compose SMART goals on your own or with various other members, many factors should be remembered, like technique, the opportunity to accomplish, reasonable, and so on. It is essential to create objectives favorably because establishing an aim being base of the firm’s success.
S – Specific
When setting a goal, it needs to be specific about your requirements and what you want to accomplish. This term does not recommend the procedure to attain the objective but consists of some questions that must be asked before setting the goal.
Conclusion:
Setting smart goals assists you in obtaining success in your profession and achieving the development and advancement you want. The wise goal context sets limits and explains the required actions to accomplish the particular goal, like resources, process, development measurement criteria, and so on. With SMART goals, you can obtain your objective proficiently and efficiently.
Q.2 You are the team leader of a team of ten Sales Executives. Your Manager has asked you to design a Performance Planning Process for your team. How will you do it? (10 Marks)
Introduction:
Efficiency planning is the primary stage of the management of performance. It is the process of identifying the course of work to ensure that both the employee and his senior recognize what is forecasted for the employee and just how achievement is well particular and measured.
Concept & Application
Worker management is a considerable part of every organization. Efficiency planning keeps the personnel involved. Interaction of the labor force is the attention of any management side. Worker interaction climbs if feedback is done regularly, monthly, or quarterly. In regular conferences with management, employee discusses their performance, find an option for their issues and get originalities and training. If workers discover that management is putting initiatives into the growth of the labor force, they become more connected with the organization and want to stay and function harder. This consistent progress and company between managers and staff create brand-new leaders within the firm.
Conclusion:
Performance planning is a vital process that supervisors make use of in management to ensure they can accomplish the goals of the establishment. It motivates workers, in addition to supervisors, to offer their finest Efficiency.
Q.3 in a strategy meeting, as a HR Manager, you are asked to evaluate the Management By Objectives method for evaluating the performance of employees.
a) How will you explain your views related to MBO as a method of appraising the performance of the employees? (5 Marks)
Introduction:
Management by objectives (MBO) is when a manager and worker pick particular performance objectives and create a plan to accomplish them. This practice’s function is to enhance the company’s performance by specifying the organization’s and worker’s goals. It is prepared to line up claims and increase worker payment and commitment.
Concept & Application
Management by goals (MBO) uses a set of neutral or assessable standards against the efficiency of a business and its workers to be gauged. When comparing actual performance with the requirement, directors can recognize trouble zones and enhance efficiency.
Conclusion:
Management of goal (MBO) Supports personnel to identify the company’s purpose and count on sharing the management’s plans, functioning harder, and delivering efforts. Yet often, things that are virtuous on paper only work practically. If the management embraces this theory, they must also be mindful of its downsides. They should make their plans appropriately and reasonably.
b) If it is decided to follow MBO method for performance evaluation of employees, what steps would you suggest for implementing MBO? (5 Marks)
Introduction:
Management by Goals (MBO) is a planned system to enhance the efficiency of a company. It is a method where the establishment’s goals are well-mentioned and communicated by the most significant degree of management to all individuals associated with that organization. Well-mentioned purposes result in the accomplishment of the objectives of the company.
Concept & Application
In this management strategy, monitoring and examining all employees’ efficiency, growth, and development is necessary. It needs to be linked with the company’s goals. If the worker is more connected with the organization’s objectives, they might put more initiative into achieving them.
Conclusion:
Management by Objectives (MBO) is a method implemented by managers to regulate their labor forces by executing a sequence of real goals that both the association and the employee aim to accomplish in the future and work accordingly.
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