The Performance Management System Of Colbran Medical Institute Essay - 1

The Performance Management System Of Colbran Medical Institute - Essay Example They tend to contribute towards their organization staunchly and scrupulously only when they are motivated, and their contributions are valued and appreciated by their organization. Valuing one's contribution and supporting their initiatives is possible only when an organization realizes its employees’ contribution in a way it should be realized. This is possible with the proper implementation of an objective performance management system. Using objective measures of performance evaluation makes employees clear that organization follows procedural justice and rewards them according to their contribution. The end result of objective performance evaluation is motivation, commitment, encouragement, job satisfaction, and greater employee retention that contribute towards organization’s profitability in the long run. Moreover, with objective performance appraisal followed by good reward administration makes employees loyal and more committed towards their respective organiza tions. Thus, we can say that objective performance evaluation followed by performance appraisal accompanied by proper reward administration makes employees motivated and committed towards the organization. This paper focuses on the performance management system that will be suggested for Colbran medical institute in pursuit of removing its flaws in its current performance appraisal. Why organizations need performance management system is an important question. Most of the researchers argued that for unbiased performance evaluation, implementation of performance appraisal system is compulsory because it works by taking into account key performance indicators (KPI) and key performance results (KPR). When organizations communicate their employees the performance standards and key performance indicators clearly, that helps businesses in achieving competitive advantage because employees with a clear goal of what is expected of them.

Strategic Management in Action. HSBC Group Essay

Strategic Management in Action. HSBC Group - Essay Example After the organization of Hong Kong as a British colony in the consequences of the Opium War, a bank was required to finance the mounting trade between China and Europe. Its major and foundation-laying supplementary The Hong Kong and Shanghai Banking Corporation were recognized in Hong Kong and Shanghai in 1865. HSBC Holdings plc is a public limited company integrated in England and Wales, headquartered in London Strategic management refers to the art of planning your business at the maximum possible level. It is the responsibility of the company’s leader (or leaders). Strategic management centers on building a solid underlying structure to your business that will then be fleshed out through the joint efforts of every individual you employ. It is the procedure of specifying the organizations mission, vision and objectives, rising policies and plans, often in terms of projects and programs, which are planned to attain these objectives and then allocating resources to employ the policies, and plans, projects and programs. Strategic management seeks to organize and incorporate the activities of the different functional areas of a business in order to attain long-term organizational objectives. The business is being redesign to focus chiefly on high growth economies, by hopeful to trend to 60% of revenues coming from these economies. When looking at the urbanized markets business, center is to build particularly on those parts of the customer base which have international connectivity for which their "right to win" is mainly important. Global Banking and Markets: 4,000 international customers, where rising markets, stability sheet and worldwide platforms (HSBC net, Payments & Cash Management, Global Sub-Custody, Trade Services) are HSBCs calling card. Commercial Banking: 2.7 million customers locally, where top end customers and 40% of HSBCs SME customers have international requirements, HSBCs calling card. The