Discussion

The performance measurement within an organization is one of the fundamental blocks that constitute the total quality management or a the TQM within an organization. This in turn helps in the maintenance and the formation of an organization that maintains the total quality (Van Dooren, Bouckaert and Halligan 2015). The performance within the company was measured through the financial factors and that included the profit gained by the organization which marked the success of the company as well as the liquidation that might be faced by the concerned company leading to the failure of the company (Kearney 2018). the following paper attempts a discussion on the issue of considering the measurement of the overall performance of the company to be the stepping stone of the analysis of the performance of the organization as a whole.

The measurement of the performance of the company as a whole is beneficial to the company in a varied number of ways. The measurement of the performance of the company helps in the identification as well as the tracking of the progress made towards the goals that are set by the concerned organization (Mone and London 2018). The performance management is also known for the identification of the various opportunities that are presented by the management of the concerned organization (Shields et al. 2015). The measurement of the performance within the organization further helps in the comparison that exists within the internal as well as external standards that are maintained by the concerned company in discussion (Ahmed et al. 2016). The reviewing of the organizational performance is also necessary since it assists the concerned company to direct the several strategies and the activities within the organization. This further helps the concerned authorities to deal with the several strengths and the weaknesses of the concerned organization (Buckingham and Goodall 2015). This in turn helps the company to maintain the various factors that are related to the maintenance as well as the improvement of the productivity of the organization as well as the quality of the products that are manufactured by the concerned company.

The measurement of the organizational performance helps in ensuring that the requirements of the concerned clients of the company are met. The measurement of the performance of the organization further help in setting the objectives that make sense and are compliant for the concerned employees of the organization (Pulakos et al. 2015). The measurement of the organizational management further helps in the setting of the standards that are required for the establishment of the grounds of comparison that are implemented by the company (Gerrish 2016). The measurement of the organizational performance also helps in setting the scoreboard for the people who have been serving the organization (Arnaboldi, Lapsley and Steccolini 2015). This helps in the self-monitoring of the performance levels of the people serving the business firm in both the internal as well as the external operations. The performance measurement further helps in the highlight the areas within the operational factors within the concerned organization that might need to be attended on the basis of a high priority (Cardy and Leonard 2014). This further helps in highlighting the areas that should be improved by the concerned company.

Importance of performance management

The performance of the concerned company in both the internal and the external issues can be measured by a number of factors. There are various models as put forth by the eminent theorists that are used to measure the employee performance of the organization as well as the various external stakeholders of the organization (Kiatkawsin and Han 2017). These models include the goal setting theory model and the expectancy theory model. The model of the goal setting theory states that the employees of the organization set their own personal goals and strive hard to maintain the levels of the performance as have been set by themselves (Neubert and Dyck 2016). This empowers the employees to deal with their own performance and thereby improve the performance that they deliver to the concerned company (Budworth, Latham and Manroop 2015). The goal setting model of performance measurement thus helps the employees to have a self-evaluation on their performance towards the given business organization (Locke and Latham 2015). The goal setting theory is also helpful in the achievement of the aims and the goals that are set by the concerned organization (Latham 2016). The management of the various business organizations might also be empowered to deal with the issues of the setting of the goals that might help in the overall improvement of the operations within the organization.

The other theory that can be cited for the measurement of the performance of the concerned business organization refer to the model of the expectancy theory. This model suggests that the behavior of the employees is based majorly on the issues of the attainment of goals that are set by the organizational management and the employees themselves (HemaMalini and Washington 2014). The theory is majorly influenced by the expectations of the concerned employees regarding the various events that are scheduled in the future. This theory states that the expectations regarding the future events tend to influence the present activities of the employees who have been serving the organization at the several levels within the given organizational hierarchy (Hayes 2018; Chen, Ellis and Suresh 2016). The expectancy theory further states that the rewards that are extended towards the employees by the management are tied to the performance that is put forth by the employees of the organization (Purvis, Zagenczyk and McCray 2015; Lazaroiu 2015). The performance of the employees is known to be affected by the rewards that are offered to them. This in turn helps in the improvement of the employee performance within the business firm.

Conclusion:

From the discussion above, it might be pointed out that the measurement of the performance delivered by the concerned employee helps in the analysis of the organizational performance as a whole. The measurement of the organizational management further helps in the setting of the standards that are required for the establishment of the grounds of comparison that are implemented by the company. The regular performance measurement helps in setting an environment wherein the staff of the organization tend to deliver the proper performance and are known to help in the overall performance of the company as a whole.

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