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

Performance Management at Littleton Credit Union - Essay Example

Cite this document
Summary
Performance Management Table of Contents Table of Contents 2 Introduction 3 Factors Affecting Performance Management 3 Performance Management in Little Credit Union 4 References 10 Introduction The study is prepared with the sole intent to understand the challenges faced by the Little Credit Union (LCU) organization…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.9% of users find it useful
Performance Management at Littleton Credit Union
Read Text Preview

Extract of sample "Performance Management at Littleton Credit Union"

Download file to see previous pages

The study will aim at providing performance management techniques which can act as a catalyst in improving the efficiency of the organization. The solutions provided in the study will help the employees of LCU to achieve their targets and objectives in a systematic method. The study will also give an insight into the difficulties faced by the organization in implementation of these techniques. Performance management techniques will help in addressing the financial and non financial challenges faced by LCU.

Factors Affecting Performance Management Performance Management (PM) is defined as a systematic approach in improving the individual and team performance in order to achieve organizational goals (Baron and Armstrong, 2005, p.02). It also aims at developing the capacity of the employees and workers and providing guidance to the employees when it is required to deliver superior performance (Cardy and Leonard, 2011). There are several internal and external factors affecting the performance of the company which requires crucial identification by the management of the organization (Thorpe and Beasley, 2004).

These factors need to be critically examined by the managers of the organization to evaluate the influencing factors related to the performance of the employees. . It is observed that the Carla Fredericks would serve for the post of CEO in Little Credit Union (LCU) and has identified certain challenges faced by the company. Providing solutions from the performance management perspective would enable the CEO to address the immediate concerns of the organizations in a systematic manner. Firstly, it was observed Acquiring financial investment from loan sharks for LCU is not an easy process because the loan sharks are doubtful on the organization’s ability to repay the loans.

To address this problem it was suggested by the CEO and the other top level managers that LCU should get themselves credited with a credit rating agency to obtain credibility (Partnoy, n.d.). By obtaining credibility LCU the opportunities of obtaining financial resources gets widened. However, it was observed that the credit rating agencies provide credit rating to companies with a good management practices and high turnover. This is not possible in this case because LCU has not been able to yield profits and also attract high potential investors.

Secondly, it has been observed that LCU is over staffed; the number of staff is high compared to the population of the town. An organization with a high number of employees does not necessarily mean that the employee productivity would also increase. An overstaffed organization can have negative consequence for example a high number of staff indicates that the management of LCU has been paying extra wages and salaries which has resulted in an increase in their expenditure. LCU management should focus on acquiring the right number of staff with suitable skills for the required position.

It would be easier to design the key responsibility areas that would be required in each and every department of the organization and

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Performance Management at Littleton Credit Union Essay”, n.d.)
Performance Management at Littleton Credit Union Essay. Retrieved from https://studentshare.org/management/1478946-performance-management-at-littleton-credit-union
(Performance Management at Littleton Credit Union Essay)
Performance Management at Littleton Credit Union Essay. https://studentshare.org/management/1478946-performance-management-at-littleton-credit-union.
“Performance Management at Littleton Credit Union Essay”, n.d. https://studentshare.org/management/1478946-performance-management-at-littleton-credit-union.
  • Cited: 0 times

CHECK THESE SAMPLES OF Performance Management at Littleton Credit Union

Teachers Union: Trade Unions in The US

A paper "Teachers union: Trade Unions in The US" reports that the phenomena of forming and joining trade unions have been there for some time and takes place in both the developing and developed nations.... hellip; With the ever-increasing number of industries, employees, and democracy, there has been the need to form and join workers trade union.... A trade union per see refers to an organization of the unique group of workers that come together with an aim of seeking better working conditions or pay (Balanced politics....
5 Pages (1250 words) Research Paper

Littleton Manufacturing Case Study PowerPoint presentation

To address this issue, the management at littleton manufacturing got concerned with addressing the deep lying problems that affected the company.... This paper will aim towards identifying the problems at littleton and providing solutions that will help consolidate the company's position in the market.... With this as a sign of organizational problems at the company, the management sought help from students at a nearby faculty to asses the organizational communication at littleton (Whiteside, 1994)....
8 Pages (2000 words) Speech or Presentation

Problems Identified and Their Symptoms at Littleton Manufacturing

With this as a manifestation of the institutional bottlenecks at the corporation, the management of the company sought help from students at an adjacent institution to examine the institutional communication at littleton.... The first problem established was the deficiency of institutional concord at littleton.... The deficiency of uniformity in the enforcement of policies and measures inside the distinct sides of the plant also got mentioned as a problem at littleton....
5 Pages (1250 words) Term Paper

An Environmental Analysis of Cheshire Neighbours Credit Union

hellip; This study is initiated to investigate the impact of environmental features on Cheshire Neighbours credit union success when compared to it competitors. Using Porters Five forces framework, the PESTLE framework, the SWOT matrix and the core competences Cheshire Neighbours credit union was analysed in order to identify those invisible taken for granted assumptions, capabilities and resources that competitors have found difficult to emulate.... Firstly, Cheshire credit union unlike other financial institutions has but members and not customers....
14 Pages (3500 words) Case Study

Littleton Manufacturing (A)

Such case resulted to the company not producing the littleton Manufacturing (A) The problems present in littleton manufacturing company is due to its environment.... The management of littleton lacked the expertise to draw the best strategy for the company that could help solve the above issues.... The stakeholders of littleton are not focusing on the company's priorities.... he management of littleton has to set realistic goals and improve their organizational unity....
1 Pages (250 words) Case Study

TNA - Navy Federal Credit Union Part II

The Navy Federal credit union is a US based armed forces financial institution that serves the Navy, Army, Air Force, Marine Corps, Coast Guards and DOD.... It has its headquarters in Vienna, Virginia and is chartered and regulated within the authority of the National credit union… The Union being a financial institution, has been facing a difficulty of having to cope with employees whose performances have not been reaching their expectances.... On an average scale, most of the tellers at Navy union are giving in lesser input per day and this can be associated with customer relations and PR conditions at the company....
5 Pages (1250 words) Essay

Application of Project Management in Union Credit Program

This paper "Application of Project Management in union Credit Program" focuses on the case of the union Credit Programme which revealed a situation in which incorrect/ineffective levels of project management failed to address the core issues that were present in the organization.... Sadly, the case of union Credit Program is one that has a high degree of relevance with respect to the way in which many projects or organized and develop.... Within such an understanding, this particular analysis will engage a discussion with regards to the case of the Universal credit Programme and the means through which project planning and project governance could have been utilized to a more effective degree; potentially creating a situation in which the losses and failures of the program would not have been evidenced to the degree in which they were....
6 Pages (1500 words) Essay

Who Should Oversee Credit Unions

As an example, the article talked about how a barge terminal owner was denied a business loan by a credit union because of the cap but was offered a personal loan instead.... If the cap was raised, the credit union could have given the operator the total loan amount he needed and could have saved him the time he spent saving up to make the difference.... This essay "Who Should Oversee credit Unions" talks about credit unions wanting to have more capability to offer loans, especially to small businesses....
1 Pages (250 words) Essay
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.
Contact Us