StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Company's Performance Management System - Assignment Example

Cite this document
Summary
Performance Management System Name of the Student University Date Contents COMPNAY DESCRIPTION 3 PERFORMANCE MANAGEMENT SYSTEM 3 BENEFITS AND SHORTFALL 3 ANALYSIS OF EFFECTIVENESS 7 CONCLUSION AND RECOMMENDATIONS 8 COMPNAY DESCRIPTION PERFORMANCE MANAGEMENT SYSTEM For the success of any business, one of the key aspects is decision making…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.7% of users find it useful
Companys Performance Management System
Read Text Preview

Extract of sample "Company's Performance Management System"

Download file to see previous pages

The major objective of the Beverage brand is a global recognition as an organization believing and nurturing ethical and responsible business. The organization wants to achieve a sustainable growth with the objective of operating in the future. The goals of the organization’s performance management are to enable highest level performance. The objective of the global performance system of Coca-Cola is to create an environment where workers and employees and develop and excel skills for improving themselves as well as move forward in their career goals (The Coca–Cola Company, 2013a).

The most recognized performance management system of Coca-Cola is known as peak performance process. This system is implemented all around the global offices of Coca-Cola. The peak performance process invites all the employees’ to participate in its multifaceted program, round the year. The process includes development, performance and elements of career planning that are recorded in the online tool of the organization (Jonhson and Scholes, 2002). Bonuses and compensations are linked to this system and are calculated on the basis of this process every year.

BENEFITS AND SHORTFALL The performance management system at coca-cola is achieved through four different stages of the annual business cycle. The management system is composed of multiple objectives. The first stage is the annual performance review which is held to access the previous year results. The objective of this stage is to appreciate the top performers of the previous tear. Other objective during this stage is to prepare feedback and coaching for the key performance indicators, key performance objectives and competencies of last year (The Coca–Cola Company, 2013b).

Apart from reviewing last year performance, the annual review also sets the development plan of current year. The key performance indicators and the key performance areas and the competencies for current year are identifies. The second stage is planning for the performance of the year. In this stage, the key performance areas and competencies are finalized and delegated throughput the organization. The third stage of performance management is the reward and recognition phase. In this stage, the pay linked to performance is indicated and top performers are recognized.

The last stage is the mid-term review, where coaching and feedback is provided. A 360 degree feedback on competencies is provided and well as competency development plan is formalized. Figure 1 Performance Management System at Coca-Cola Source: The Coca–Cola Company (2013c) The key benefits of using this performance management system can be described as follows; 1. Development of skills for improvement 2. Excellence in performance 3. Advancement in career goals. By providing the right resources, training and performance measurement programs, the organization makes sure that employees are sufficiently equipped with skills and capabilities which will help them in building their career (Sahoo and Mishra, 2012).

By providing appropriate authority and job responsibilities to the job holders, the managers makes sure that the functions of Coca-cola are focused on activities such as coordination, division, task control and proper flow of information. The performance at coca-cola focuses on acquisition and retention of highly skilled and knowledgeable employees and

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Company's Performance Management System Assignment”, n.d.)
Retrieved from https://studentshare.org/management/1483610-company-s-performance-management-system
(Company'S Performance Management System Assignment)
https://studentshare.org/management/1483610-company-s-performance-management-system.
“Company'S Performance Management System Assignment”, n.d. https://studentshare.org/management/1483610-company-s-performance-management-system.
  • Cited: 1 times

CHECK THESE SAMPLES OF Company's Performance Management System

Management Control Systems as Packages

Management control system is basically a mechanism companies use to collect information required to manage and control the activities regarding accomplishment of organizational goals and objectives.... [Your full name] [Instructor's full name] November 08, 2013 management Control Systems as Packages Introduction Effective management is essential for every organization to improve its levels of productivity and performance.... In this regard, companies make use of management control systems to support organizational objectives, as well as to control processes and improve organizational performance....
5 Pages (1250 words) Essay

Performance Management System for Managers

This further pinpoints the fact that the deployment of an efficient performance management system policy within the organization would indeed help it to essentially tackle its internal issues in a better and more effective manner possible.... Once the performance management systems are installed and in place, we can have a proper check.... hellip; The strategic goals are seen from the long-term perspectives and thus it is only best to see them from maintaining the performance management systems at the overall facilitation of the prevalent processes and systems within the organizations....
3 Pages (750 words) Essay

Performance Management System

Human resource management deals with performance management system.... The study takes on the advantages of performance management system.... The study looks into the role of the Human Resource Management officer to the employees' enthusiastic achievement of performance management system benchmarks.... hellip; Human Resource Management officer plays a vital role in encouraging the subordinates to pass the performance management system benchmarks....
14 Pages (3500 words) Essay

Performance Management System

The author of this paper "performance management system" focuses on the system that can be described as all those activities implemented by an organization to ensure that their goals are achieved.... hellip; performance management system is the process by which an organization supports its sources, systems, and workers to tactical goals and significances.... This paper looks at the performance management system in the Fasset sector.... It is specifically, the data-oriented management system that consists of three major components, quantity, reaction, and positive support....
8 Pages (2000 words) Research Paper

Management and Information Systems of Ginsters Company

From the paper "management and Information Systems of Ginsters Company" it is clear that the use of B2B systems is essential for managing communications between the company and its partners, which is essential for enhancing competition for the company's products in the market.... Development of a reliable and appropriate management portfolio for the distribution channel is essential in enhancing the performance of the organisation (Mail Online, 2010).... management of various processes in the industry requires an appropriate approach to ethics....
8 Pages (2000 words) Case Study

Performance Management System

The author of this assignment entitled "performance management system" comments on the process of the performance management.... he base of an effective performance management program is the configuration of metrics to the corporate tactic.... nbsp;… A good performance system entails good behavior skills and proper training through interview questions.... n open organization enables all employees to know what to expect from a reward system and have some part in the distribution of a reward....
4 Pages (1000 words) Assignment

Drawback and Challenges of Performance Management

It is also important from the view point of the employees that the organization and the However it is also found that most of the performance management system and the performance management processes and the performance management systems are tiring in their processes.... performance management system requires managers to go with the employees to a room in a yearly performance management review.... The worst problem with performance management system is that the problem lies with one's performance being reviewed by another person....
10 Pages (2500 words) Assignment

Earnings Management and Reporting Techniques

Since, the value of the stocks of a company are measured on the basis of the present value of the future earnings of the business, therefore, the existing and potential investors and… The companies with low earning prospects generally have low share prices as compared to those with high earning prospects, therefore, earnings management plays a crucial role in determining the share prices of a listed company and also impact the direct allocation of resources buy the company in the capital markets....
8 Pages (2000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us