Found 699 Articles for Companies/Organisations

Performance Management CycleA performance cycle is a continuous improvement process of planning, monitoring, and measuring an employee’s performance throughout the year. It works in a way that meets the overall goal of performance management: aligning the success of employees with the success of an organization.It starts with setting up of a performance standard to meet the targeted goal followed by monitoring the performances of the employee toward that goal, identify any issue or blockage in the way, and provide necessary resources and training to overcome the blockage.Performance management cycle helps employees to achieve their potential and have greater involvement in ... Read More

Performance management is also a technique for maximizing the efficiency of a workforce. While many believe it is a once-a-year occurrence, this is not the case. It is a never-ending process. It is a strategic plan designed to maximize an individual's production quality. It effectively matches company objectives with an employee's productivity when done correctly.The guiding principles of performance management should be about people and performance, not just the process involved.Some of the guiding principles of performance management are as follows −Performance AnalysisIn performance management, the reviewer measures the frequency of behavior of the employee and the outputs he/she gives ... Read More

What is Performance Assessment?Any performance management process involves an assessment or an analysis of achievements and planning which form the basis for an employee’s career plan, potential development, and performance agreements.Flawless assessments can never completely be a reality as it is subject to various errors or glitches like Halo Effect which means that the manager acquires a tendency of generalizing a few professional experiences with the other aspects of performance and easily relate to the problems of poor perception, selectivity and poor interpretation.Assessments require the capacity to appraise performance, and sound judgment requires applying defined criteria, considering only relevant facts, ... Read More

What is Performance Management?Performance management is a communication-based process between a supervisor and an employee occurring throughout the year, to plan, monitor and review the employee's performance, objectives, goals, and overall contribution to the organization. Essentially, performance management is what organizations undertake to increase their success and maintain a competitive edge.The main aim of performance management is to foster an environment in which people and teams take ownership of their development and that of their companies. Specifically, performance management is concerned with accomplishing individual goals under corporate settings and ensuring that each employee works toward these.A lot of components are ... Read More

Performance management is an effective technique for aligning all primary organizational activities and sub-functions so that the organization's emphasis is on achieving its objective. A well-designed performance management system may be critical in simplifying employees' operations to accomplish the organization's ultimate goal and vision.Performance management is a much bigger system since it encompasses planning, executing, assessing, and evaluating to maximize development and productivity on an individual and organizational level.By clearly outlining individual- and team-based tasks in the form of key performance indicators (KRAs) and fostering an awareness of shared reciprocal accountability, a sound performance management system promotes, empowers, and encourages ... Read More

What is Performance Management?Performance management is a communication-based process between a supervisor and an employee occurring throughout the year, to plan, monitor and review the employee's performance, objectives, goals, and overall contribution to the organization. Essentially, performance management is what organizations undertake to increase their success and maintain a competitive edge.Performance management is often categorized into two types; they are as follows −Corporate Performance ManagementHuman Performance Management.Corporate Performance ManagementCorporate Performance Management (CPM) is defines the methods, metrics, and processes used to monitor and manage the business performance of an organization. CPM strategically focuses on information to operational plans in order ... Read More

Let us begin by learning about business intelligence.Business IntelligenceBusiness intelligence is an application-driven phase allowing organizations to analyze raw information from various sources, extracting vision that lead to higher effective business results. It is a set of tools and methods that analyze and transform raw information into actionable and coherent data for use in business analysis to support decision-making.Each business has strong transaction-oriented systems that save all information gathered from daily operations into repositories.It can stay competitive, businesses should rediscover and uses the data they influence, and this is where BI appears into play. Business intelligence can change vision from ... Read More

In this post, we will understand the difference between strong entity and weak entity −Strong EntityIt has primary key.It doesn’t depend on any other entity.It can be represented using a single rectangle.The relationship between two strong entities can be represented using a single diamond.It can either have total participation or no participation.Weak EntityA weak entity has a partial discriminator key.It depends on the strong entity.It can be represented using a double rectangle.The relationship between a strong and a weak entity can be represented using a double diamond.They always have total participation.Read More

A Fact Table contains a combination of attributes from completely different dimension table. It helps the users understand and analyze the business dimensions that would help improve the business processes. Fact tables are also known as Reality tables.Dimension tables, on the other hand, help a Fact Table gather the dimensions on the data that needs to be collected.Read through this article to find out more about Fact tables and Dimension Tables and how they are different from each other.What is a Fact Table?In data warehousing, a Fact Table is one that contains the measurements, metrics, or facts of a business ... Read More

The major differences between contribution margin and gross margin are as follows −Contribution MarginIt is used by pricing decision (whether product line is making profits or not).Contribution margin = difference between sales and variable costs divides by sales.It analyses profit metric per item.Only variable cost is considered for calculations.It determines the margin for production, where only variable costs are present.It detects variable costs and its percentage included in margin.It is useful for multiple scenario analysis.Gross MarginWhether production cost is covered by its sales or not.Gross margin = difference between revenue and Cost of goods sale/revenue.It analyses total profit metric.It considers ... Read More