Premium Essay

Performance Management an Overview

In: Business and Management

Submitted By LukasHerzog
Words 2748
Pages 11
List of Abbreviations

PM Performance Management
PMS Performance Management Systems
PMT Performance Measurement
BS Balanced Scorecard
PMA Performance Measurement Analytics

Introduction
Performance Management (PM) has become an important part of today’s management tools. PM in general tries to increase organisational effectiveness by setting up measurements and goals for individuals, department and the organisation as a whole. It also aims to set goals both strategic and operational for the organisation using PM. To achieve the pre-set goals people and resources working in the organisation need to work as reliable and efficient as possible.
To make PM a tool which can be handled in an easier more management friendly way different Performance Measurement Systems (PMS) have been created over time. I am going to talk about one of them The Balanced Scorecard later on. The PMS goal is to link the different performance figures and give a quick and precise view of the company’s performance also taking intangible assets into account.
After talking about the theoretical part of PM I try to give an insight in the more personal approach of PM by looking at the behavioural factors contributing to PM. PM needs to be supported by everyone who is part of both the planning and the executing of the tasks. The personal behaviour towards PM and its indicators have especially changed in the last couple of decades due to a shift in the economy from a mostly static work environment with throughout planned tasks to a more open minded environment where tasks cannot be set prior anymore due to the increase in the need of problem solving.
At the end I am giving a short insight into the reward system of PM and its change in the past with giving a small outlook into how it has to change to meet the new needs of employees which will gain increasing importance in the future.…...

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