Information Systems Strategic Planning Risk And Performance Management

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BA531 Business Performance Management Week 1 Assignment Information Systems Strategic Planning Risk & Performance David Nagus Grantham University Professor Duhn Sept 3, 2015 1. State a simple definition of performance management. Performance management is a process that provides feedback and accountability and also documentation for performance outcomes. It is a forum to help employees channel their talents toward organizational goals. 2. State the three major strategic choices facing firms. Globalization, Competition, Out Sourcing 3. Explain the seven major forces which drive interest in performance management. Economy: a) Failure to explain the strategy: A reason for this failure is managers and employees cannot explain the…show more content…
g) Broken budget process: Annual budget exercises are viewed as fiscal routines by accountants that do not reflect future volume drivers. 4. Explain the relationship between performance management and value creation. is a process by which managers and employees work together to plan, monitor and review an employee 's work objectives and overall contribution to the organization. Value creation is the primary aim of any business entity. Creating value for customers helps sell products and services, while creating value for shareholders. The two tie together because the company wants to improve on their internal processes and that includes having products or services that customers will buy and use and that is the ultimate goal of an organization to create streaming revenues. Read more: http://www.referenceforbusiness.com/management/Tr-Z/Value-Creation.html#ixzz3kszAFSaP 5. State the four customer-facing trends which drive customer satisfaction. Customer Service-This is the first contact a customer will have with a company basically the face of the organization and if that fails everything else will too. Improvement-Making sure the way things are done to continually improve the customers experience Act on findings-If there is an experience where a customer has a problem find the cause and fix it Optimize-This means use existing resources or find other resources to
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