Performance Appraisal Literature Review
LITERATURE REVIEW Performance appraisal is a key human resource management function which is viewed as a subset of performance management. Rao (2005, p.336) opines that “performance appraisal is a method of evaluating the behavior of employees in the work spot, normally including both the quantitative and qualitative aspects of job performance”. Dessler (2008, p.336) views performance appraisal as any “procedure that entails setting work standards, assessing employees actual performance relative to those standards, and providing feedback to the employees with the aim of motivating him/her to eliminate performance deficiencies or to continue to perform above par”. The aims of appraisal according to Fajana (2002) are three folds: appraisal entails historical review of employees‟ performance; it is a means for distributing rewards as well as a means for determining training and development needs. Manoharan, Muralidharan and Deshmukh (2009) posit that performance appraisal (PA) is an important management tool to assess employees‟ efficiency in the workplace, and may be defined as a structured formal interaction between a subordinate and supervisor that usually takes the form of a periodic review which could be annual or semiannual to evaluate work performance. Performance appraisal is intended to engage, align, and coalesce individual and group effort to continually
Performance Appraisal case study
Executive Summary The Sales Manager at AX Systems, a small Spanish company which manufactures computer equipment, had announced his intention to leave the firm. To succeed him, there were two internal candidates being considered. The first, Juan Diez Martin, was a 20 year veteran who believed that the job was his given his seniority with the company and the fact that he was named Salesperson for the Year for the past 5 years. The second, Jose Luis Rodriguez Gonzalez, was with the company a respectful 5 years and had received much customer praise and recognition in that time. A decision to promote Jose Luis was made at the hands of the HR Manager who based his decision on the position job description and the employees' performance appraisals which were evaluated on a trait scale by their department manager. The appraisals were vague and were not communicated to the employees. There was no "action plan" put into place to ensure employees' performance could be improved. The decision to promote Jose Luis was told to the employees jointly in the HR Manager's office. After this time Juan claimed that the decision was unfair and came as a result of the Sales Manager being friends with Jose Luis. At that time the HR Manager provided both Juan and Jose Luis' appraisals for Juan to review. The failures here were that the individual selected for the position was selected in an unfair
Investment Appraisal - rational calculation or psychological crutch.
Investment Appraisal - rational calculation or psychological crutch The only way to tell if a decision was worthwhile is with the benefit of hindsight. However in business, although there are some instances where one can rely on another's experience, there are many in which there exists no useful precedence to the case. This is where capital investment decisions are critically important to the future running of a business. A bad choice of investment can damage a company's financial performance over the coming years, whereas a good decision can guarantee profits for a given period. Looking at the work of Dewing, a contributor to corporate finance writing until the late 1950's; one can see that there are some valid arguments for the lack of a rational calculation in capital expenditure. Dewing claims that there are 4 main motives as to why business enterprises seek to expand. The desire by the entrepreneurs to value themselves in terms of their setting, i.e. the bigger the business the bigger the man metaphor. This motive is particularly relevant to people who want to succeed in business. If a man has a field of interest outside his domain of work he may be content running a successful convenience store, however should that man seek to succeed in business he may only be satisfied by running a chain of successful convenience stores. Man's creative impulse is cited as
Performance Appraisal
PERFORMANCE APPRAISAL PERFORMANCE PIECE TITLE Sonata II in E( major, II (Siciliano) COMPOSER J. S. Bach PERIOD/DATE OF COMPOSITION Baroque WHAT IS THE STYLE OF THE COMPOSITION AND ARE THERE ANY SPECIAL FEATURES OF THE STYLE? My performance piece was written in the Baroque era. Some general characteristics of Baroque Music are: MELODY: A single melodic idea with long melodies. Harmony - tonic to dominant modulations, or tonic to relative minor/major. The Basso Continuo (Figured Bass). RHYTHM: Continuous rhythmic drive. Steady tempo and consistent metre with ritard at end and repetition of rhythmic patterns. There is much energy in the rhythm. TEXTURE: Balance of Homophonic (melody with chordal harmony) and polyphonic textures. TIMBRE: Orchestral - sometimes strings, wind and harpsichord with very little percussion. DYNAMICS: Abrupt shifts from loud to soft - achieved in an orchestral sense by adding or subtracting instruments. ORNAMENTS: These are generally placed before the penultimate note in a bar. Ornaments such as appoggiaturas - chromatic passing notes - were used more frequently. An overall characteristic of Baroque Music is that a single musical piece tends to project a single mood or expression of feeling. HOW DOES THE COMPOSER USE THE INSTRUMENT IN THE PIECE? The composer does fairly well to exploit the flute in this piece. One of the strengths
Critical appraisal
Critical appraisal of article entitled: "Obesity in people with intellectual disabilities: the impact of nurse-led health screenings and health promotion services" Marshall et al 2003(p1). This assignment will be based on a critical appraisal of the before mentioned article. The appraisal will include discussion of the title, authors, and topic discussed. Also included will be comments on the structure of the article, the methodology used and the research findings, whilst discussing any ethical issues that need to be addressed. Finally, in conclusion I will summarize my findings. The title in an article is very important as it is this that first draws someone to read it, as Cormack (1996) states "it is extremely important for a research publication to have meaningful and non ambiguous title", (p382). He goes on to say "it is the title which clarifies the topic of the research being described and gives the potential reader an indication of the content",(p382). Although the title is long, it is felt that it needs to be in order to describe the research topic and the content of the article in brief. Therefore giving, as much information, at a glance as possible. The authors of the article are all in a position academically, clinically and professionally to research their chosen topic. Each author has a background qualification in learning disabilities and has experience in
Industrial Psychology - The importance of performance appraisal.
Industrial Psychology The importance of performance appraisal Assignment by Konstantinos Tachtsidis After employee selection, performance appraisal is arguably the most important management tool that an employer has. The performance appraisal, when properly carried out, can help to help develop and reward the performance of present employees. The strengths of the performance appraisal are its ability to promote a two-way communication between the supervisor and the person being appraised and to help the employee to take more responsibility for improving his/her performance. In contrast, in the old fashioned traditional performance appraisal, the supervisor acts more as a judge of employee performance than as a coach. By doing so, unfortunately, the focus is on blame rather than on helping the employee assume responsibility for improvement. In today's fast-paced business world, it may seem like a luxury for organizations to spend precious resources for planning, developing and engaging in employee performance appraisals. The truth is, however, that most organizations can't afford not to give performance evaluations. There are three key reasons why every organization should give performance reviews. The first reason is that performance appraisals help employees become better workers. All good managers provide regular feedback to employees so that they can develop into
Groupon Investment Appraisal- one can raise a few doubts over Groupons business model and their current strategic position.
Investment Appraisal Business model Groupon's business model relies on a simple idea: customers register with the website to get daily deals in their area. If a sufficient amount of interested buyers is reached, the company uses its buying power to get an important discount.1 The firm has rapidly expanded through markets in North and Latin America, Europe, Asia, and has reached more than 30 million customers and 142 million email subscribers.2 As we are considering an investment opportunity, it is relevant to mention that Groupon makes its margins by taking a percentage off the deal offered by local providers. The group has had a fast growth supported by a huge customer's and merchant's base, along with the ability to provide a large range of deals. Despite these strengths, one can raise a few doubts over Groupon's business model and their current strategic position. The company operates in a very volatile market. Low capital requirement and no intellectual property rights restriction make it easy to enter the market, which leads to an increased number of competitors (Porter, 1980). These numerous competitors imply little brand loyalty and no customer lock in. Customers have no switching costs (Amit and Zott, 2001) and a high power; they are thus free to switch to other deals. The large success of Groupon has also brought several local businesses into trouble because
A PROJECT REPORT ON PERFORMANCE APPRAISAL PRACTICES IN ONGC LTD.
A PROJECT REPORT ON PERFORMANCE APPRAISAL PRACTICES IN ONGC (Submitted in partial fulfillment for the Completion of the degree of BBA) FACULTY OF ARTS, SCINECE & COMMERCE Mody Institute of Technology & Science Lakshmangarh (Rajasthan) 2009-10 CONTENTS CHAPTER 1 Introduction 3 CHAPTER 2 Overview of ONGC 6 CHAPTER 3 Changes in Economic Environment and its Impact on ONGC 11 CHAPTER 4 Performance Appraisal Practices in ONGC 20 CHAPTER 5 PAR Section in ONGC 25 CHAPTER 6 Current Initiatives of PAR System in ONGC 33 CHAPTER 7 Data Analysis and Interpretation CHAPTER 8 Limitations 35 CHAPTER 9 Conclusion 36 CHAPTER 10 Suggestion 38 CHAPTER 11 Bibliography 40 CHAPTER 12 Annexure 41 Introduction CHAPTER NO 1 INTRODUCTION Oil and Natural Gas Corporation Ltd. (ONGC) a Navaratna public sector enterprise engaged in exploration of hydrocarbons is one of the leading companies with significant contribution in its industrial and economic growth Over the years ONGC has been fairly successful in building up a vibrant oil industry in the country. The above topic was chosen to extent of Performance Appraisal practices operative in ONGC and the need for further strengthening of performance appraisal system of the employees so as to improve the efficiency and productivity and prepare them for their future
Music Appraisal - Classical Waltzes
Music Appraisal - Classical Waltzes Piece 1 - Waltz in B Minor F. CHOPIN, Op. 69, NO.2 Piece 2 - Waltz in C# Minor J. BRAHMS, Op. 39, NO.7 Piece 3 - Je Te Veux ERIK SATIE My chosen three pieces are all waltzes in 3/4. They each maintain the feeling of a traditional waltz, conjured up by the chord movements in the bass clef. Furthermore, each work is composed for piano. Piece 1 - Waltz in B Minor F. CHOPIN, Op. 69, NO.2 This piece was published after Chopin's death and is one of a pair with Waltz in Ab Major. It has a time signature of 3/4 and should be played moderately fast. The music is in B Minor but also modulates into B Major giving the sudden peak of happiness in the middle of the piece. The use of chromatic scales is also apparent; they generally give a sense of falling back in to the main rhythm as they are used just before a section of flowing melody. Block chords are applied in the left hand; with a strong first beat on the bass note just before, to give structure to the piece and possibly to dancers. This is covered by the right hand with the main swaying rhythm. Dynamics of this piece often relate to the phrases and cadences, if the rhythm begins to increase in pitch then the dynamics tend also to increase and vice versa so that it gives the feeling of a strong uprising in the melody, even building towards the B major section. Some phrases have an accent on
The NPV rule is the best investment appraisal method." Discuss
"The NPV rule is the best investment appraisal method." Discuss. Word Count: 1995 words "The NPV rule is the best investment appraisal method." Discuss. All firms need to invest in order to grow. Investments generally require significant and irrevocable commitments of finance, whilst also being generally on a long-term basis. In order to decide on which project to take up, firms must undertake a screening process known as 'investment appraisal' to justify potential suitability. There are four main methods of investment appraisal: the Net Present Value (NPV) rule, the Internal Rate of Return (IRR), the Accounting Rate of Return (ARR), and the Payback Period. The basic characteristics of these four methods will be outlined and then compared. The NPV Rule The NPV rule states that a project should be undertaken should its NPV be positive (Ross et al, 2005). It, like the IRR, is a discounted cash-flow (DCF) model because it takes into account cash flows, whilst discounting them instead of just adding them up (all formulae included in appendix). Due to this, it takes into account the time value of money, which helps to negate the effects of inflation. Although inflation is not directly a cash flow, it has an effect on tax and this is then added onto the cash flows themselves. The NPV rule also includes the cost of capital (or the discount rate); helping to take risk into
