StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Managerial decision making process - Essay Example

Comments (0) Cite this document
Summary
Performance evaluation is an important task in any organization because by evaluating the performance the productivity level of an individual is measured.Promotion,salary packages,increment in compensation and growth of the individual are also based on the performance evaluation …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.3% of users find it useful
Managerial decision making process
Read TextPreview

Extract of sample "Managerial decision making process"

Download file to see previous pages Performance evaluation is an important task in any organization because by evaluating the performance the productivity level of an individual is measured.Promotion, salary packages, increment in compensation and growth of the individual are also based on the performance evaluation therefore organization must ensure that they have proper performance evaluation method that considers important characteristics and traits of the individual so that right candidate is promoted and get his reward of hard work. Also by promoting the right individual, his motivation level would also increase thus it would further increase the productivity. There are different factors that an organization use to evaluate the performance of an individual however the following criterion are the most common considered by organization to evaluate the performance of an individual Knowledge of the individual Expertise in the field Productivity level Performance Tasks completed by the individual Completion of work within the deadline Skills to work as a team player These are the most common factors that are considered in evaluating the performance of an individual, but the criteria may vary from one organization to another. Main concerns with the given company’s current evaluation form The main problems with the existing company’s evaluation form and method are as follows: In evaluating performance, the behavior of an individual with his co-workers and supervisors is highly considered. The extent to which an individual keeps his desk or office clean is considered an important aspect. Task completed on time is not considered as an important characteristic to evaluate the performance of the individual. The knowledge and abilities of an individual are ignored. Most Commonly-Used Sets Of Criteria Which Should Be Evaluated In A Performance Evaluation There are several commonly used sets of criteria used in order to evaluate the performance of an individual and these criteria are as follows: Performance of the individual Goals and targets achieved by the individual Efforts put in by the individual Productivity of the individual Ambitions Leadership qualities Motivation level Technical skills and knowledge Team work and team player Advantage of using same performance evaluation method One of the main advantages of using one performance evaluation method for every employee is that it evaluates the performance of different employees in the organization using same criteria therefore it is easy to identify the performance level of different individuals and thus it becomes easier for the management to analyze and reward them and promote them. RELATIVE VALUE OF THE COMMONLY-USED SETS OF EVALUATION CRITERIA already IDENTIFIED There are drastic differences in the criteria used by the company and the criteria that are most commonly used in organizations around the world. The existing system of the organization focuses more on the behavior of the performance, rather than the contribution of the individual towards organization goals and objectives. Organizations around the world focus on the productivity and performance of the individual, whereas this company focuses on relationship with co-workers and managers. Result indexes, such as turnover, quantity and quality of work produced by the employee, are also used for appraisal purposes around the world, which are ignored by the company. Advantages Of Including Supervisors, Peers, And Subordinates In The Evaluation Process Most of the people in the organization review the employee’s performance than just their immediate supervisor. The 360-degree feedback evaluation allows the employer to understand what the performance of the employees is and how the supervisors, peers, subordinates and the external customers viewed the employee’s performance. This evaluation technique provides feedback from all levels of the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Managerial decision making process Essay Example | Topics and Well Written Essays - 1750 words”, n.d.)
Retrieved from https://studentshare.org/management/1440715-managerial-decision-making-process
(Managerial Decision Making Process Essay Example | Topics and Well Written Essays - 1750 Words)
https://studentshare.org/management/1440715-managerial-decision-making-process.
“Managerial Decision Making Process Essay Example | Topics and Well Written Essays - 1750 Words”, n.d. https://studentshare.org/management/1440715-managerial-decision-making-process.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Managerial decision making process

An Effective Planning Process

Managements first and the most fundamental problem is selecting the right individuals with the prospective for development. evenly important is the placement of those individuals in positions in the organizational structure where their talents are most desired.
Manpower development instigates with human resources planning also known as manpower planning, which establishes a firm's specific personnel rations. These are attained by a qualitative fortitude of the individual job specifications and of the specific characteristics required of a person for the successful performance of each job. Once these job requirements are recognized, it is essential to forecast the number of persons desired for each job. This stage of employmen...
11 Pages(2750 words)Coursework

How Does Branding Affect Buyers Purchase Decision

The scope of the study covers all kinds of buyers with different behaviours making buying decisions with regard to different brands. There is also a detailed study of the Consumer Decision Process. There is a good enough introduction on consumer buying process besides an extended and detailed introduction on Branding and Marketing emphasizing the difference between the two and how the concepts are different from each and in what way there can be a delineation between the two. There is an explanation on the different stages of Consumer Buying Behaviour, namely Need Awareness, Information Search, Checking Options, Purchase Decision, and Post Purchase Behaviour. There is also a detailed explanation on Types of Consumer Buying Behavio...
44 Pages(11000 words)Research Paper

Information Systems Development Process

When a project has an obvious objective to be attained and the effort is very small, common sense and attention to what the client wants can be a suitable alternative to more complicated and formal methods. However, when the software system becomes more complex, the objectives are multiplied and start to depend on different configurations and circumstances, it becomes imperative to structure the development effort to avoid software development that does not answer the clients need, or does not have the requisite level of quality, or becomes impossible to forecast in terms of time and budget – or a combination of any of the preceding.

In situations of complexity in software development, structure methods seek to im...
13 Pages(3250 words)Assignment

Recognized and Unrecognized Managerial Leadership

The changing roles of management in the current era of rapid globalization has been succinctly articulated in the two articles: ‘Recognized and unrecognized managerial leadership’ by S. Sjostrand and M. Tyrstrup; and ‘Why hard-nosed executives should care about management theory’ by Clayton M. Christensen and Michael E. Raynor.
 Leaders create visions and goals whereas the managers and administrators work towards achieving them.

Organizations are characterized by the unique culture that is inherent in the overall working of the organization. Discussion of leadership with reference to a large organization is as important as that of a small one for the simple reasons that the leaders with...
6 Pages(1500 words)Report

The Act of Storing Food and Making Food

When corn was first discovered, people fell in love with how available it was, and how simple it was to just pick, husk, and eat. They were also pleased that they could store it and use it as needed when they needed to. It was a perfect grain for traveling pilgrims during those times. Without humans, corn could not survive, as it needed to be husked to drop its seeds.
In chapter two, it is learned how important the workings of a farm are to food production. Everything from the soil that plants and grains are grown in, to the machines used to produce items for cooking play huge roles in the larger scheme of things. Even the grain that is fed to the animals has to be the best kind, to produce the best meat for sale. Everything...
14 Pages(3500 words)Literature review

Contemporary Managerial Issues in Accounts and Finance

Political theorists like Veblen argued that the separation of corporate ownership from control generates a transfer of power from a minority of stockholders to a group of decisive owners who have the control over the way of access to credit and finance (Roe, 1994, p. 5).
However, contemporary analysts of corporate power contested that dominance and ownership in modern corporations have shifted to a property-less group of managers. Consequently, this current shift of power and control in large modern corporations could usher in ultimate preoccupation over profit rather than non-financial motives. Furthermore, the separation of power and ownership will lead to the destruction of the traditional legal theory of property which en...
23 Pages(5750 words)Literature review

Managerial Economics and Business Environment

Once the above said subject matter is clearly sorted out, the next emphasis would be on the concepts like the opportunity costing, incremental principle, marginal principle, discounting principle, the principle of time perspective, and calculation of economic profit as the guidelines to the scope of managerial economics. (Surender. V, 2008).
To start with, we consider a firm for which different processes have to be carried to achieve its objectives of profit maximization (assuming that all the organizations work with the view to maximize profits). If firms from different sectors are identified simultaneously, then the working of the economy as a whole could also be analyzed which in turn is useful in the decision-making proce...
15 Pages(3750 words)Assignment

Future Digital Design Process

As we shape up the interface between the designer and the virtual environment we are naturally going to produce a greater and far better outcome.
It will enable the end-user to be more creative and experimental and explore possibilities that were previously tedious or impossible. The design possibilities of virtuality will enhance the outlook of environments.
Now we can also term it according to the duration it can last. For any new thing, the duration is 10-30 years. If it lasts for 10 it would be popular as a tool another 10 and it would very well be a theory and if it survives all 30 years it will soon be defined as a revolution.
It was the end of the 20th century and the beginning of the 21st century that saw th...
21 Pages(5250 words)Assignment

Decision Making in Health and Social Care

...DECISION-MAKING IN HEALTH AND SOCIAL CARE: ECONOMICS a) Why are market forces unsuitable for health service resource allocation? Refer in your answer to the problems of consumer sovereignty, agency, and health outcome measurement. Market forces, demand and supply, move in opposite directions with respect to price changes. When the price of a good is high the demand for it is less while the supply of it is greater. This is economic sense but nevertheless this positive economic statement about the predictable behavior of the consumer does not hold true when the demand patterns for Giffen and inferior goods are factored in. For instance when income, of the individual consumer, rises his demand for inferior goods such as potatoes...
8 Pages(2000 words)Case Study

Learning and Memory Process

...Profile Report This report compares and contrasts the answers provided by the interviewees X and Jason. Learning and memory process Interviewee X prefers to learn by observation and has the ability to give directions to a place that X has earlier visited. Jason also prefers to learn by observation. Interviewee X prefers to work in silence to avoid distraction whereas Jason prefers distractions as they force him to concentrate. Quietude makes his mind wander. Interviewee X’s preference to work in silence points to the use of committing work to the long term memory. Jason displays a preference to utilize short term memory for his work since it has the capacity to focus on the work at hand despite distractions around. The use of short term...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Managerial decision making process for FREE!

Contact Us