Managing Performance Within Business Business Plan

Length: 2 pages Sources: 2 Subject: Business - Management Type: Business Plan Paper: #58557612 Related Topics: Management Control, Performance Management, Performance Evaluation, Management Information Systems
Excerpt from Business Plan :

Performance Management Plan Review

The value of measuring and identifying key skills and attributes is essential to an evolving organization. The following performance management plan is tailored to the Stonefiled Limousine business.

Location: Austin, Texas

Type of Business: Limousine Service

Number of Employees

Current Predicted Annual Net Revenue: $50,000

year Revenue Growth Objective: 5%

Turnover Rate: 10%

The purpose of a performance management plan is to track and guide an organization's employee's contribution to the organization. It is necessary to first identify the problems and objectives of the organization in order to get an appreciation for the industry and type of products and services they offer. The most important aspect of any performance management plan is that the organizational strategy is aligned with other facets of this improvement such as the Human Resources and operations aspects of the company. Put simply, the company must understand what is being asked of them.

The first recommendation is to create and organize the company so that the proper leader/subordinate relationships are created to actually perform the performance analysis on the various employees. All leaders in the company...


The company may need to be reformatted in a structure that is more hierarchical to achieve this effect.

A solid performance management program requires counseling and evaluation sessions held at regular intervals. These sessions are used as a formal approach to discussing job performance and the personal goals and objectives of the employee. These counseling sessions should happen in stages that guides and mentors the employee towards a meeting towards both organizational and personal goals.

It is essential that leaders identify key objectives that the organization can rally around and support. The necessity of clear communication that is exchanged both up and down the chain of command allows for free flowing information to strengthen and enhance the performance of the entire collective group. Performance management program support should be directed and guided by the human resources department of the company.

The final recommendation suggests that any wide scale change in your organization will be met with resistance and challenges. This expectation is important to deal. Staying focused on the goals and objective not letting disruptive setbacks impede on progress is a practical attitude for leaders infusing these recommendations. Standardized forms, letters and job description writings need to be created, and implemented…

Sources Used in Documents:


Armstrong, M., & Baron, A. (2000). Performance management. Human resource management, 69-84.

Otley, D. (1999). Performance management: a framework for management control systems research. Management accounting research, 10(4), 363-382.

Cite this Document:

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