performance management

Topics: Strategic planning, Mission statement, Strategic management Pages: 19 (5178 words) Published: October 15, 2014
Chapter 3 - Performance Management and Strategic Planning Learning Objectives
3.1 Define strategic planning and its overall goal.

3.2 Describe the various specific purposes of a strategic plan.

3.3 Explain why the usefulness of a performance management system relies to a large degree on its relationship with the organization’s and unit’s strategic plans.

3.4 Understand how to create an organization’s strategic plan including an environmental analysis resulting in a mission statement, vision statement, goals, and strategies.

3.5 Conduct an environmental analysis that includes a consideration of both internal (strengths and weaknesses) and external (opportunities and threats) trends.

3.6 Understand how a gap analysis resulting from a consideration of internal and external trends dictates an organization’s mission.

3.7 Define the concept of a mission statement and describe the necessary components of a good mission statement.

3.8 Define the concept of a vision statement and understand its relationship to the mission statement.

3.9 Describe the basic components of a good vision statement.

3.10 Create organization- and unit-level mission and vision statements.

3.11 Understand the relationship between mission and vision statements, goals, and strategies.

3.12 Understand the relationship between an organization’s vision, mission, goals, and strategies, and each of its divisions’/units’ vision, mission, goals, and strategies.

3.13 Understand the relationship between a unit’s vision, mission, goals, and strategies and individual job descriptions.

3.14 Explain why job descriptions must be linked to the organization’s and unit’s strategic plans.

3.15 Understand how a strategic plan determines various choices regarding performance management system design.

3.16 Explain why a consideration of strategic issues is a building block for creating support for a performance management system.

Chapter Outline

Performance Management and Strategic Planning

Overview
1. Definition and Purposes of Strategic Planning
2. Process of Linking Performance Management to the Strategic Plan Strategic Planning
Developing Strategic Plans at the Unit Level
Job Descriptions
Individual and Team Performance
3. Building Support

1. Definition and Purposes of Strategic Planning
Definition
Process
Describes organization’s destination
Assesses barriers
Selects approaches for moving forward
Goal
Allocate resources
to provide organization
for competitive advantage
Purposes
Helps define the organization’s identity
Helps organizations prepare for the future
Enhances ability to adapt to environmental change
Provides focus and allows for better allocation of resources Produces an organizational culture of cooperation
Allows for the consideration of new options and opportunities Provides employees with information to direct daily activities

2. Process of Linking Performance Management to the Strategic Plan Strategic Planning for the Organization
Developing Strategic Plans at the Unit Level
Job Descriptions
Individual and Team Performance

What was Key Bank of Utah’s experience with this process?
According to the study of 338 international organizations, what kinds of organizations are most likely to have Performance Management provide significant benefit to the strategic plan?

Strategic Planning: Overview
A. Environmental Analysis
B. Mission
C. Vision
D. Goals
E. Strategies

A. Environmental Analysis
Identifies external and internal trends
To understand broad industry issues
To make decisions using “big picture” context

How might a gap in service prompt a business to compete in a market?

Compare Frontier Airline’s opportunities in 1994 with those of 2004. . . What internal and external issues did you consider?

External trends
Opportunities
-- Environmental characteristics that can help the organization succeed Threats
--...
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