HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HC2101 Unit Title Performance Management Assessment Type Individual Assignment...

1 answer below »
open the pdf file for the assignment details


HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HC2101 Unit Title Performance Management Assessment Type Individual Assignment Students are required to apply the theories and knowledge derived from the unit materials, demonstrate critical analysis and provide a considered and comprehensive evaluation. Students must use correct in-text citation conventions. This strictly needs to be your own original work. Plagiarism will be penalised. Assessment Title Tutorial Question Assignment 1 Purpose of the assessment and linkage to ULO. Students are required to answer 5 questions come from the recorded tutorial questions every week from week 2 to week 6 The following Unit Learning Outcomes is applicable to this assessment: 1. Understanding different methods and levels of measuring performance in organisations 2. Matching people to job requirements – understanding job demands, situational factors and successful recruitment 3. Planning future HR needs taking into account new trends and changes in labour force demographics 4. Managing poor performing staff and retaining high performing individuals and groups 5. Complying with relevant legal requirements 6. Demonstrating the capacity to express ideas, concepts and arguments in a logical and coherent written form conforming to relevant standards of academic writing. 7. Developing team skills Weight 25% Total Marks 50 Marks Word limit The word limited is provided in each question Due Date Week 7 - Friday 11:59 PM (Midnight) [Late submission penalties accrue at the rate of -5% per day] Page 2 of 3 Submission Guidelines • All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. • The assignment must be in Microsoft Word format, 1.5 spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. • Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list, all using the Harvard Referencing style. Please use Harvard Referencing. Assignment Specifications Purpose: This individual assignment is an opportunity for students to demonstrate their understanding of performance management Details Answer All FIVE (5) of the following questions. The questions come from the recorded tutorial questions from week 2 to week 6. Question 1 - Week 2: Tutorial Question 3 (10 marks) Tim is a Sales Manager. identify and explain 3 measures which can be used as performance criteria for Sales Managers. If Tim wants to encourage his team to perform highly, what type of performance management system should be implemented and why? Answer this question in 300 words. You must support your discussion by referring to 3 additional academic sources from ProQuest. Harvard Referencing is required and ensure that you reference the sources correctly. Question 2 - Week 3: Tutorial Question 1 (10 marks) According to a consulting firm report - Bain and Company, Management Tools and Trends 2015, one of the top ten management tools implemented by companies was the Balanced Scorecard. Many surveyed companies (40%) have indicated that they are satisfied with using the Balanced Scorecard for strategic planning. Explain the Balanced Scorecard and how the Balanced Scorecard can be used for strategic planning. Answer this question in 300 words. You must support your discussion by referring to 3 additional academic sources from ProQuest. Harvard Referencing is required and ensure that you reference the sources correctly. Page 3 of 3 Question 3 - Week 4: Tutorial Question 2 (10 marks) Explain the importance of benchmarking and how benchmarking can be utilised in different areas of HR? Answer this question in 300 words. You must support your discussion by referring to 3 additional academic sources from ProQuest. Harvard Referencing is required and ensure that you reference the sources correctly. Question 4 - Week 5: Tutorial Question 3 (10 marks) Job analysis is an important concept for HR managers. Explain the differences between job analysis, job description and person specification. Name three key methods of undertaking a job analysis, discussing the strengths and weaknesses of each method. Answer this question in 300 words. You must support your discussion by referring to 3 additional academic sources from ProQuest. Harvard Referencing is required and ensure that you reference the sources correctly. Question 5 - Week 6: Tutorial Question 3 (10 marks) There are certain standards which recruitment methods must meet to be effective. Outline and describe the five standards. Answer this question in 300 words. You must support your discussion by referring to 3 additional academic sources from ProQuest. Harvard Referencing is required and ensure that you reference the sources correctly.
Answered Same DayMay 05, 2021HC2101

Answer To: HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester...

Subhalaxmi answered on May 09 2021
153 Votes
PERFORMANCE MANAGEMENT
Q1. A number of measures are undertaken to identify the performance criteria for sales managers. The three widely used measures are customer generation, selling expense ratioand sales generation. Metrics of sales are information that focuses on a manager’s team or an organizations production. They help in tracking the progress to achieve the objective. They also assist in forecast
ing the growth of the product and recognizing the strategic complications. Customer generation also alludes to lead generation (Souza & Ghazouani, 2016). This metric assistsin estimating the number of interested prospects who have an inclination towards the purchase of the product. Leads generation is a process where sales executives are provided with a database of prospects. Sales executives have to connect to the prospects through telephone, email or message and then provide information about the product. Hence the interested prospects get converted to leads. The selling expense ratio is the cost incurred by a salesman to sell a product (Nguyen et al., 2020). This metric is also referred to as customer acquisition costs.
An effective performance management system is a persistent and deliberate procedure by which managers can motivate the employees. It includes proper communication and feedback between employers and employees. In this scenario, Tim being the sales manager wants to encourage his team so a review and reward-based performance management system must be implemented. When the team members are given constructive feedback about their performance, they feel motivated. Information about how an individual is performing and acknowledgment of their past triumphs give the fuel for future achievements. In a reward-based system, the team members are provided with incentives and compensation for their outstanding performance. This motivates them to work hard and achieve the targets (Quadri, 2019). The rewards can be in cash or kind and the team members must be made aware of the system. Proper criteria and targets must be laid following the reward system.
Q2. A balance scorecard is a vital strategic management framework that helps, in recognizing and improving several internal organisational procedures and their related external outcomes. It constitutes of three parts - defines thekey objectives, set an action plan, and develop key execution indicators and measurements. Balance scorecard focuses on four perspectives, such as financial, customers, processes and learning and growth (Kalender & Vayvay, 2016). Thefinancial perspective helps in characterizing financial objectives, such as revenue growth and profitability. Customer viewpoint focusses on client driven objectives, such as, consumer loyalty and retention. Procedures refers to the internal activities of organization and expanding the proficiency is the main focus. Learning and growth stresses on organizational capital and data capital. These four points conform to the essential BSC structure. Associations can have more viewpointdepending upon the business. Strategy map contains objectives concerning every viewpoint and the interconnections.
For implementing Balance score card organizationsneed to set proper objectives depending upon the four perspectives. BSC is utilized at executive level to examine effectiveness. Organization has three explicit financial objectives that areexpanding development opportunities, upgrading workforce value system, and improving cost structure. Customer centric goals areservice delivery, excellence, and effective pay structure (Hamdy, 2018). The internal procedure includes the workforce, executives, administration, cost management, and service delivery management.Workforce process includes staffing selection and retention. Service delivery management includes identification, development, justification and recurring. Cost management includes salaries, bonuses, and stock options. The learning and development perspective includes trustworthiness, motivation, partnership, knowledge, excellence, and balance...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here