Description
Performance Management System
Chapter 8-Case Study 2-Performance Management System Helps Freeport-McMoRan Switch Strategic Gears
Answer the following questions:
- Why did Freeport-McMoRan need a performance management system? How might it have helped the company adjust its strategy?
- Do you think a pen-and-paper performance management system could have been as effective as the web-based system Freeport-McMoRan adopted? Why or why not?
The following requirements must be met:
- Write between 1,000 – 1,500 words using Microsoft Word in APA 6th edition style.
- Use an appropriate number of references to support your position, and defend your arguments. The following are examples of primary and secondary sources that may be used, and non-credible and opinion based sources that may not be used.
- Primary sources such as government websites (United States Department of Labor - Bureau of Labor Statistics, United States Census Bureau, The World Bank), peer reviewed and scholarly journals in EBSCOhost (Grantham University Online Library) and Google Scholar.
- Secondary and credible sources such as CNN Money, The Wall Street Journal, trade journals, and publications in EBSCOhost (Grantham University Online Library).
- Non-credible and opinion based sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. should not be used.
- Cite all reference material (data, dates, graphs, quotes, paraphrased statements, information, etc.) in the paper and list each source on a reference page using APA style. An overview of APA 6th edition in-text citations, formatting, reference list, and style is provided here.
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Attached.
Running head: Performance Management System
Performance Management System
Instructor name
Submitted by
Date
Performance Management System
2
Performance management is a system by which managers and employees collaborate to arrange,
screen and survey a worker's work goals and general commitment to the association. More than
only a yearly performance survey, performance management is the consistent procedure of
setting targets, evaluating progress and giving on-going guiding and criticism to guarantee that
employees are meeting their destinations and job objectives. Performance Management systems
empower you to track and screen the performance of individual employees, offices, and the
association general. These systems are regularly in view of hierarchical and employment
particular abilities which should be acquired for fruitful occupation performance. The parts
incorporated into Performance Management systems include:
1.
Lists of Accomplishments
2.
Goals and Objectives
3.
Results from 360-Degree Feedback Processes
4.
Supervisor Ratings
5.
Individual Development Plans
The crucial objective of performance management is to advance and enhance representative
adequacy. It is a nonstop procedure where managers and employees cooperate to arrange, screen
and survey a worker's work targets or objectives and his or her general commitment to the
association. (“Performance Management Systems”, n.d.)
Why did Freeport-McMoRan need a performance management system? How might it have
helped the company adjust its strategy?
...