Business Management Report Essay Example | Topics and Well Written Essays - 3000 words

Business Management Report - Essay Example However, at the conclusion part, the report summarizes the approaches adopted to assess and manage performance, as well as the summary of performance management, in general. Performance management concept is a recent development that adopts a future-oriented strategy that is focused and is applied to all workers with an aim of maximizing their usual level of performance and future potentiality. This increasing focus on the level of performance at all levels in a company arose from the globalization pressures. There is an urgent need, of creating competitive advantage, is for survival in the marketplace internationally (Elias and Scarbrough, 2004). Talents, abilities, competencies, human capital, the value-creating skills, and competencies, of a companys employees, are argued to be a significant component in forming such competitive advantage (Mayo, 2001). Management of performance is noted to be the main role in human capital development (Tahvanainen, 2000). In addition, performance management is a continuous cycle to assess and manage the development of skills and tasks of all workers so that the organization can achieve its goals. In this section, it has been divided into three major parts and subsections on it. The major sections include an overview of the management cycle, review of different approaches to performance management and analysis of the problems associated with assessing and managing performances. Human resources problems that are commonly experienced by employers include establishing productivity, recruitment, employees, carrying out and prevent discrimination. However, the report covered performance management in organizations. This section is divided into three sections. They are an overview of the performance management cycle, a review of the different approaches to performance management and analysis of the problems associated with assessing and managing performance. In addition, there are