Sunday, December 29, 2019

Literature Review on Performance Management - 9179 Words

CHAPTER TWO 2.0 LITERATURE REVIEW 2.1 Introduction Over the last two decades, Performance Information, its implementation and presentation to the end users which directly refers to the subject of performance measurement (PM) has gained increasing interest and recognition in the general management literature, leading Neely (1999), when referring to the many contributions on the subject, to talk about the Performance Measurement Revolution. He demonstrated that between 1994 and 1996 a mere 3615 articles on performance measurement were published. During that period, there has been a sustained attention for PM within the financial industry. This section intends to make an expository on the PM literature by†¦show more content†¦In this employees would visualise as part of their function the requirement to continually assist in improving the performance of the organisation. They will also perceive that they can influence important aspects of overall performance (Robson, 2004).This was described by Horton and Farnham (1999) as a process of maximising the value added through the performance management such that the initial costs are exceeded by the subsequent benefits. To achieve this, individuals and teams take responsibility for the continuous improvement of the business developing their own skills and effectiveness (Armstrong, 2006). By harnessing and developing the potential of the individual the organisation will be best placed to achieve the strategic goals. In addition to this, the underlying principles of performance management have been described as one of collaboration in which the system deployed should be one which encourages development and one which allows team members to move on to strategic development within the organisation (Egan, 1995). The principles of performance management have been summarised as follows (Information Data Services 1997), 1. Translates corporate goals into individual team, department and divisional goals 2. It helps to clarify corporate goals 3. It is a continuous and evolutionary process in which performance improves over time 4. It relies on consensus and cooperation 5. ItShow MoreRelatedLiterature Review Performance Management and the Balanced Scorecard6479 Words   |  26 PagesChapter 2 Literature Review Since the Balanced Scorecard was developed in the 1990’s by Robert Kaplan and David Norton (1992), it has gained in popularity amongst academics and practitioners. In 1990, Kaplan and Norton led a research study of a lot of companies with the purpose of exploring the new methods of performance management. 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