performance management process

knowledge of the organization’s mission and strategic goals

knowledge of the job in question

prerequisites for performance management process

knowledge of the organization’s mission and strategic goals

involves the interplay of mission, vision, and strategic planning

establishing a mission, vision and objectives

environmental analysis: internal analysis and external analysis

strategy formulation

strategy implementation

strategic control and performance evaluation

strategic management process steps

environmental analysis

involves the evaluation of the business environment of the organization

all internal and external influencers that impact a company’s decisions and performance

micro-environment

classification of environment - company level - controllable

macro-environment

environment classification - the big picture - uncontrollable

micro-environment

macro-environment

environment of a firm are classified into

strategy formulation

involves designing a course of action for addressing strategic issues facing the firm after going through the external and internal evaluation process

planned or intended actions

reactive or emergent actions

actual strategy of a company involves..

strategy implementation

the process of putting a company’s various strategies into action

development of programs/policies, budgets, and procedures

can take several months of years to complete

most difficult of the strategy process

involves managers of all levels

strategic control and evaluation

process by which desired outcomes (mission, vision, and objectives) are compared with realized outcomes to determine if there are gaps

initiate corrective outcomes by monitoring changes in environment—competitor actions, new market opportunities, customer needs and expectations

job analysis

a process of determining key components of a particular job, including activities, tasks, products, services, and processes

a fundamental prerequisite of any performance management system. without it, it is difficult to understand what constitutes as the required duties for a particular job.

without knowing, we wont know what needs to be evaluated and how to do so