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Criteria for Success of Performance Management

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Organizational processes and operations like marketing, promotion, management, planning, and allocation of resources have been carried out in organizations for decades. Most of these activities have been performed because of the requirements of the organization. Performance management is concerned with coordinating and synchronizing these activities so that the required results are achieved inside an organization. Preparation, teaching, and guidance are vital tools for the success of the organization but they cannot convey the preferred outcomes. Performance management is concerned with acquiring and achieving the preferred outcomes which would contribute to the increasing the competence and efficacy of the organization (Atkinson, 1997). Globalization has made the world a small place with the opening of major markets. An organization needs to acquire competitiveness and marketing edge in order to survive the aggressive entry of new players into any new market. Performance management becomes a vital tool which helps assist the management in measuring the performance of their organization (Eichen, 1997). This paper introduces the concept of performance management and highlights the benefits of this approach in organizational development. It studies the development of performance management and how it can help to achieve the desired outcomes.
Performance management is concerned with enhancing the ability of organizations to evaluate growth and development by accomplishing fixed aims and objectives. It consists of studying the difference between tangible and preferred outcomes. This creates a benchmark for the organization where it understands and perceives the efficacy and success of its performance management systems and processes (Bacal, 1998). The process is a cycle which consists of numerous stages. In the first stage, the purposes and targets of the organization are recognized and identified. The tasks are subdivided into short term, medium-term, and long term aims and objectives. The second stage consists of the management providing their&nbsp.opinions and comments on the entire process.