Performance Management System

Unit-02
An Overview of the Performance
Management System(PMS)

Semester-03
Master of Business Administration 1
 UNIT

An Overview of the Performance

Management System
(PMS)

Names of Sub-Unit
Difference between Performance Management and Performance Appraisal, Link between
Performance Management and Performance Appraisal, Benefits of Performance Management,
Succession Planning, Role Analysis, Evaluating Performance Management, Performance
Management and other HR Processes, Oracle’s EPM, SAP PM System, Every Manager is an HR, Role
of Leadership in PMS

Overview

This unit begins with an explanation on the performance management system and the difference
between performance management and performance appraisal. Further, this unit also describes
the link between performance management and performance appraisal, benefits of performance
managementandsuccession planning. This unit also explains the role analysis, evaluatingperformance
management, performance appraisal and other HR processes. Towards the end, this unit covers the
topics like the oracle’s EPM, SAP PM system, every manager is an HR and role of leadership in PMS.

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 Learning Objectives

In this unit, you will learn to:

 Explain the difference between performance management and performance appraisal
 Describe the benefits of performance management
 Discuss succession planning
 State the role analysis
 Explain the Oracle’s EPM
 Define SAP PM System
 Elaborate the role of leadership in PMS

Learning Outcomes

At the end of this unit, you would:

 Assess the difference and link between the Performance Management and Performance Appraisal
 Evaluate the benefits of Performance Management
 Analyse the Succession Planning and Role Analysis
 Examine the Performance Management and other HR Processes
 Appraise the Oracle’s EPM and SAP PM System
 Describe the Role of Leadership in PMS

Pre-Unit Preparatory Material

 https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert-views/
documents/performance-management.pdf
 https://ebs.online.hw.ac.uk/EBS/media/EBS/PDFs/Performance-Management-Course-Taster.pdf

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 Table of Topics

2.1 Introduction
2.2 Difference Between Performance Management and Performance
Appraisal
2.3 Link between Performance Management and Performance Appraisal
2.4 Benefits of Performance Management
2.5 Succession Planning
2.6 Role Analysis
2.7 Evaluating Performance Management
2.8 Performance Management and Other HR Process
2.9 ORACLE’S EPM
2.10 SAP EPM System
2.11 Every Manager is an HR
2.12 Role of leadership in PMS
2.13 Conclusion
2.13 CONCLUSION

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2.1 Introduction
Performance includes the results achieved with the contribution of individuals, groups, or
teams to the strategic goals of the organisation. The term ‘Performance management system’
is the systematic method to measure the overall performance of employees. time. It is a process
of determining, assessing and sustaining the performance of all the aspects of an organisation,
such as processes, departments and human resources. In other words, performance
management is the systematic analysis and measurement of the overall performance of an
organisation. The main aim of this process is to improve organisational performance over time.
According to Armstrong, Performance management is a means of getting better results from
the organisations, teams, and individuals by understanding and managing performance within
the agreed framework of planned goals and competency requirements.
Employees are the valuable assets of an organisation. This is because the success of
organisations largely depends on the performance of their employees; poor performance is
detrimental to the growth of organisations.
Thus, organisations need to manage the performance of their employees and take continuous
measures to improve their performance to attain sustained growth. Performance
management is an ongoing process of assessing and managing the performance of
employees.
Some of the features of performance management are:
1. Clear goals of the organisation: People at the top and managerial level must need clearly
and precisely lay down the organisational goals and objectives. The helps the employees to
know what the organisation expects from them.
2. Continuous evaluation: Performance of the individual, team, department/ divisional
performances to be evaluated continuously. An organisation must create a scientific or
systematic evaluation process to eliminate biases.
3. Cooperation: Management must nurture the practice of managing the performance of the
employee through the corporation, not control.
4. Self-management Teams: Individuals or people working in the team must be encouraged
by the management to self-manage their performance as this enables in developing a sense of
responsibilityand commitment reducing the performance gaps.
5. Development of Leadership qualities: Managers must recognise such persons who have
the potential to become leaders in the future.
6. Feedback: There should be a feedback system that must be monitored regularly and
generate feedback loops.

2.2 Difference Between Performance Management and Performance Appraisal

The technique of monitoring each employee’s overall performance is acknowledged as

overall performance management. Whether it is about pleasing needs, clarifying
corporation goals, placing objectives, growing productivity or conducting overall performance

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 administration education sessions, the whole thing is a phase of overall performance
management.
Performance appraisal refers to the everyday view of an employee’s contribution to the
organisation. It is additionally regularly referred to as overall performance assessment or overall
performance evaluation. That is due to the fact it evaluates an employee’s skills, growth and
achievements in the company. This assessment is based totally on comments and overall
performance records.
Table 1 shows the difference between performance management and performance appraisal:
Table 1: Difference Between Performance appraisal and performance management

Performance Appraisal Performance Management

It refers to the analysis of an employee’s performance It refers to the management of human resources in an
and their calibre for future growth and development. organisation.
It is a system. It is a process.
It is a rigid process. It is supple.
It is an operational tool. It is a strategic tool.
It is performed annually. It is a continuously performed process.
It is individualistic. It is holistic.
It has quantitative aspects It has qualitative aspects.
It is retrospective It is prospective

2.3 Link between Performance Management and Performance Appraisal

Performance administration requires correct equipment to measure and screen the overall
performance of employees. Performance value determinations permit managers to consider
overall performance thoroughly, whilst additionally supplying the worker with desires and
targets to expand future performance. Performance appraisal is then surpassed by human aid
(HR) gurus for overall performance management. The purpose of overall performance
administration consists of ensuringthat personnel are working towards a frequent goal, have a
clear perception of job expectations and acquire everyday overall performance feedback.
It additionally offers recommendations for enhancement and typically affords rewards for
exact performance. The most frequent device for overall performance administration is overall
performance value determinations seeing that they permit HR to obtain most of their targets in
overall performance management. Having an overall performance appraisal and overall
performance administration software go hand-in-hand for most agencies given that it is one of
the most fantastic techniques of reaching overall performance goals.
Designed with the aid of HR professionals, overall performance value determinations
maximisethe business’s efforts in overall performance management. They are typically handed
on to the frontline managers to consider their very own teams. Appraisals are a positive
overall performance administration device due to the fact they pressure the administration to
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have an open dialog with their personnel about performance, improvement and expectations.
Some corporations use extra innovative sorts of overall performance appraisals, such as these
performed by way of co-workers or the personnel themselves. The kind of appraisal used by
way of the organisation relies upon the desires it needs to achieve, however, overall
performance value determinations carried out by way of administration isthe most frequent
method.
Good overall performance value determinations are performed on a normal basis, such as
quarterly, semi-annually, or yearly. Questions in the appraisal must be goal via requiring the
responses to be backed up quantitatively to dispose of administration bias. They permit room
for administration to specify desires and goals for the employees to work on earlier than the
subsequent scheduled appraisal. The appraisal needs to additionally consider the employee’s
capacity to attain preceding dreams and goals that have been set at the remaining appraisal
meeting. Employees must be aware of in boost what rewards may want to be predicted at
distinctive ranges of overall performance so that there areno surprises.
By having value determinations be fair, goal and goal-oriented, an enterprise is capable of
higher help its overall performance administration objectives. Other tools, such as having a
balanced scorecard, may also additionally be required to display and enhance overall
performance appraisals. Regardless of the equipment used to put in force an appraisal, an
overall performance appraisal must be consistently evaluated and adjusted to make positive
it is a correct device for measuring and evaluating worker performance. There is solely a
sturdy connection between an overall performance appraisal and overall performance
administration if the overall performance appraisal is designed and carried out
appropriately.

2.4 Benefits of Performance Management

Proper Performance management works in the direction of the enhancement of the overall
performance of the organisation by way of managing the performances of employees.
Positive overall performance management can play a very integral function in managing
the overallperformance in an organisation by:
 Ensuring that the employees apprehend the significance of their contributions to the
organisational goals and objectives.
 Ensuring every worker is familiar with what is expected from them and equally ascertaining
whetheror not the personnel possess the required abilities and help for enjoyable such
expectations.
 Ensuring acceptable aligning or linking of goals and facilitating nice conversation all
through the organisation.
 Facilitating a cordial and harmonious relationship between a character worker and the
line supervisor based totally on having confidence and empowerment.
 Performance administration practices can have an advantageous effect on job pride and
employee loyalty by:

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  Regularly supplying open and obvious job feedback to the employees.
 Establishing a clear linkage between overall performance and compensation.
 Providing sufficient improvement programmes.
 Evaluating overall performance and distributing incentives and rewards on a
truthful andequated basis.
 Establishing clear overall performance goals through facilitating an open verbal
exchange anda joint dialogue.
 Providing maximum possibilities for professional growth.

2.5 Succession Planning

Succession planning is a process of ensuring a suitable supply of successors for future key jobs
in an organisation. In other words, it is a process of recognising and developing the potential of
employees within the organisation to fill key job positions. Succession planning and career
planning are complementary to each other. This is because, in the absence of career planning,
successors cannot be identified for future job positions. On the other hand, without succession
planning, career planning would turn into a roadmap having no direction.
The following are some of the objectives of succession planning:
 To identify key positions in the organisation and evaluate the skills and abilities of
employees to fillsuch positions.
 To create immediate backup plans for filling short-term vacancies.
 To give a quick response to organisational changes that may take place in the future.
 To develop employees through comprehensive training and performance management
programmes.
 To facilitate individual career development in the organisation.
Let us understand the process of succession planning.
1. Identifying key positions: In this step, key positions to be filled in the future in an
organisation are identified. For this, the structure of an organisation is considered to
compare current and future vacancies. Key positions are strategically and operationally
essential for an organisation, such as General Managers, President, Director and CEO.
2. Identifying the talent pool: When key positions in the organisation are identified, need
analysis is performed so that the pool of potential employees can be obtained. In this
step, the knowledge base, skills and abilities of current employees are analysed as per the
position for which the successor is required. This is done by performing two main
activities namely workforce skill analysis and job analysis. Workforce skill analysis
involves determining the skills and abilities that would be required in the future for key
positions. On the other hand, job analysis helps in finding out competent employees who
can be trained and prepared for key positions.
3. Developing succession strategies: This step includes forming and deciding different
strategies to develop and prepare successors. These strategies include planned job

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 assignments, coaching and mentoring, action learning projects, retention bonuses and
various programmes related to the quality of work life. Most of these strategies are
prepared and implemented by the HR department of the organisation with the active
involvement of top management. These strategies are formed in such a way that they can
integrate both organisational development and employees’ growth.
4. Implementing succession strategies: In this step, developed strategies are brought into
action so that employees can be trained to develop the skills that would be required for
key positions in the future. Thereafter, a time frame in which a successor could be ready
to take up the new challenge is decided.
5. Evaluating the plan: It is the final and the important step of the succession planning
process. In this step, succession planning strategies are monitored to evaluate whether
succession planning yields the desired results. This can be done by taking feedback from
employees and top management and monitoring the performance of successors.

2.6 Role Analysis

Role Analysis is also called job evaluation is the technique of defining a function in the context
of its work system, interims of expectation of essential persons, detailing unique duties,
function and elaborating the process, requirements and Knowledge, Attitude, Skill, Habits
(KASH) required for the superb role.
The role is a function or a workplace a character occupies as described with the aid of
expectations from extensive people in the organisation, such as the individual himself. The
position is the series of duties and duties carried out with the aid of one person. Figure 2 shows
steps in the role analysis:

Focal person’s
Focal person’s perception of his role
Role received Actual role perception
perception of his role as perceived by role
sender

Role senders
perception of focal Role sent
person’s role

Figure 2: Steps in the Role Analysis

Let us understand these steps.

1. Focal Person’s Perception of his Role: The title suggests that the grasp developed by way
of a man or woman when work or position is distributed to him is the focal person’s
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 understanding of his role.This may also be actual or otherwise. It has been determined at
instances that this appreciation may also now not be the equal as others want. The main
purpose for the equal can also be character differences.
2. Role Sent and Received: A position sender sends function to the focal individual
following his perception. In an organisational setting, there may also be greater than one
position sender. Therefore, in function analysis, the function is analysed through a 4-
member team consisting of the focal person, his supervisor, subordinate and peer.

3. Focal Person’s Perception of his Role as Perceived by way of Role Sender: Here the focal
man or woman tries to set up his function in the mild of the expectations from the function
sender. The focal character can also alternate his position appreciation in the mild of
position sent.
4. Actual Role Perception: This is a circumstance when the focal individual as nicely as the
function sender match. In a complicated function proper function understanding is set up
by way of a lot of discussions.

2.7 Evaluating Performance Management

Evaluating overall performance requires a way for it. Evaluation can be performed with the aid
of distributing questionnaires, asking the men and women to fill them up, and then conducting
an assessment assembly immediately. The mindset surveys can be performed periodically with
the use of comparable questions as cited above, with an extensive perspective. This may want to
be an immediate expression of opinion after an assessment meeting. Figure 3 shows the
performance evaluation process:

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 7 Steps of Performance Evaluation Process

Decision
making

Discussing
results performance

performance

Figure 3: Performance Evaluation Process

Source: https://www.iedunote.com/performance-evaluation

2.8 Performance Management and Other HR Process

The steps in the overall performance administration procedure can be performed in 3 ways i.e.,
Planning, coaching and Action. Each step is equally important, and collectively shapes the
spine of a company’s overall performance administration process.
1. Planning: The first step of the overall performance administration method is Planning.
The overall performance administration technique starts evolved with the planning
stage. HR and administration want to outline the job itself, along with a complete
description, lengthy and non- permanent goals, pick out key goals and enhance a clear
metric for how these goals and desires will be assessed. Goals have to be clear, executed
in the SMART structure (Specific, Measurable, Attainable, Relevant, Time-based) and clear
overall performance requirements have to be set. Once management has performed the
defining stage, personnel ought to have the probability to supply input on this material.
They are the ones doing their job and will have a key perception into what skills, abilities and
desires will fine help the organisation to obtain organisational goals. Management and
personnel each agree to the definition of the role, desires and objectives. By making this
first step of the overall performance administration method collaborative,
administration units the stage for the method as an entire to be collaborative, and the
worker feels that they are worried about intention placing - a vital thing, as evidenced via
the Gallup study.

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2. Coaching: Once the parameters of the job and targets for the future have been set, the
subsequent step of the overall performance administration method begins. The teaching
method is extraordinarily necessary and has to be performed on a normal basis. Meetings
ought to be at least quarterly, even though monthly conferences are ideal. These conferences
have to centre of attention on options and teaching opportunities, instead of punitive
measures for lacklustre performance. If accountability is made into a negative, then
personnel will keep away from it as a substitute than being truthful about the place they are
struggling. In some cases, administration coaching in this location can be very useful to
an organisation. Management must be capable to provide and acquire - straightforward
comments and work with personnel as an alternative to adopting a combative stance. The
potential to provide actionable comments is vital here.
As the overall performance administration manner continues, the administration has to
revisit goals to see if changes ought to be made, as properly as pay interest to professional
improvement possibilities for their employees.
This step entails reviewing the average overall performance of the employee, how nicely the
technique itself worked, and it additionally consists of the reward - which is an extraordinarily
vital phase of the universal process.
3. Action: The closing step in the overall performance administration system is Action. The
remaining step of the overall performance administration manner is the reward and
recognition. This step is truly key - personnel will now not remain inspired if they are given
no purpose to. This does no longer always have to be monetary, though it probably will
consist of financial compensation. Other rewards ought to be new projects, company-wide
recognition, time off, or management opportunities. The give up of the overall performance
administration cycle offers administration and personnel one ultimate risk to provide
remarks on the technique as an entire and asks for ideas and comments for the planning
stage for the subsequent year’s cycle.

2.9 ORACLE’S EPM

Enterprise Performance Management (EPM) software program helps you analyse, understand
and document your business. EPM refers to the strategies designed to assist businesses plan,
budget, forecast and document commercial enterprise overall performance as nicely as
consolidating and finalise monetary effects (often referred to as “closing the books”). EPM
options are in particular usedby way of CFOs and the workplace of finance, while other useful
areas, such as HR, sales, marketing and IT, use EPM for operational planning, budgeting and
reporting.
While frequently tied to business enterprise aid planning (ERP) systems, EPM software program
enhances ERP with the aid of offering administration insights in addition to the pinnacle of
operational data. In different words, ERP is about running the business—the everyday
transactional activity and EPM is about managing the business—analysing, understanding and
reporting on the business.

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Today, EPM software program is viewed to be quintessential for managing all kinds of groups
through linking economic and operational metrics to insights—and sooner or later using
strategies, plans and execution. With EPM software, managers can power accelerated overall
performance throughout the enterprise with the aid of monitoring monetary and operational
effects in opposition to forecasts and desires and the usage of analytics to apprehend key traits
and predict outcomes.

2.10 SAP EPM System

SAP Plant Maintenance (SAP PM) is a software program product that manages all protection
things to do in an organisation. The plant maintenance module consists of key things to do to
consist of inspection, notifications, corrective and preventive maintenance, repairs and different
measures to hold a perfect technical system.
SAP PM permits you to manipulate renovation requests and function some repairs automatically.
You can use it to report the troubles in the ECC, diagram labor and fabric activities and file and
settle costs.
SAP PM’s integration with the different ECC modules maintains the information in the
module contemporary and robotically triggers procedures in the different features when
required. For example, a Repair recreation may also set off a buy requisition for non-stock
materials in MM or purchasing.

2.11 Every Manager is an HR

Both models focal point on the importance of integrating personnel/HRM strategies with
organisationalobjectives. Both fashions vest Personnel/ HRM strongly in line management.
The personnel feature affords the wanted recommendation and aid offerings to allow
managers to deal with their responsibilities. Both emphasise the importance of persons in
wholly growing their abilities for their private pride to make their excellent contribution to
organisational success. Both fashions understand pacing the ideal humans into the proper jobs
as a quintessential way of integrating personnel/HRM exercise with organisational goals.
Personnel administration strategies, like HRM strategies, go with the flow from the
commercial enterprise strategy. The identical type of selection, overall performance
management, competence analysis, education administration improvement and reward
administration strategies are utilised in each HRM and Personnel Management. Both human
aid administration and personnel administration usually use payroll software program
programs and display employees’ time worked. Both strategies are intended to get to the
bottom of employees’ problems. Whenever workers have a hassle that requires attention, the
HRM/Personnel Management is there to intervene and clear up the problem.

2.12 Role of leadership in PMS

You can’t have an overall performance administration machine barring any person that
oversees the everyday happenings around the office. However, simply due to the fact the

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organisation’s administration has a hand in the overall performance of their personnel doesn’t
suggest that’s the place the buck stops. Organisational management has to be worried about
the overall performance administration gadgetas well, as they subsequently dictate the overall
performance tradition of the organisation. Performance opinions supply leaders with the data
they want to analyse the facts and assist improve their team’s performance. They promote
high-performance requirements via normal overall performance remarks and goal-setting thru
coaching. Organisational management has to set these modifications in motionbecause:
1. Leadership wants to centre of attention the team: Many transferring components to
overall performance management want oversight together with components like
performance critiques to make positive personnel remain on track. As a leader, your duty in
any given overall performance appraisal is to motivate, coach and mentor through the
positive ability of verbal exchange and recognition.
2. The group wants management to create an overall performance strategy: Your
personnel want to apprehend the place their group is headed. Skill as a leader, you have to
be the one that receives them to that give up a point. Unfortunately, however, 55% of
corporations say that commercial enterprise management is now not completely
engrossed in overall performance management as it must be. Employee alignment, intention
coordination, and in consequence method go through when management takes a step again
from overall performance administration integration.

Conclusion 2.13 CONCLUSION

 Performance includes the results achieved with the contribution of individuals, groups, or
teams tothe strategic goals of the organisation.
 Performance management is an ongoing process of assessing and managing the
performance of employees.
 Performance appraisal is a rigid process but performance management is not rigid.
 Proper Performance management works in the direction of the enhancement of the
overallperformance of the organisation by way of managing the performances of
employees.
 Succession planning is a process of ensuring a suitable supply of successors for future key
jobs in an organisation.
 Some of the objectives of succession planning:
 To identify key positions in the organisation and evaluate the skills and abilities of
employees tofill such positions.
 To create immediate backup plans for filling short-term vacancies.

 Role Analysis is also called job evaluation is the technique of defining a function in the
context of its work system, interims of expectation of essential persons, detailing unique
duties, function, and elaborating the process, requirements, and Knowledge, Attitude, Skill,
Habits (KASH) required for the superb role.

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 The role is a function or a workplace a character occupies as described with the aid of
expectations from extensive people in the organisation, such as the individual himself.
 The position is the series of duties and duties carried out with the aid of one person.
 EPM refers to the strategies designed to assist businesses plan, budget, forecast and
document commercial enterprise overall performance as nicely as consolidating and
finalising monetary effects (often referred to as “closing the books”).
 SAP Plant Maintenance (SAP PM) is a software program product that manages all protection
things to do in an organisation.

2.14 GLOSSARY

 Succession planning: A process of ensuring a suitable supply of successors for future

key jobs in an organisation
 Performance appraisal: The everyday view of an employee’s contribution to the
organisation
 Role: A function or a workplace a character occupies as described with the aid of
expectations fromextensive people in the organisation, such as the individual himself
 Position: the series of duties and duties carried out with the aid of one person
 SAP Plant Maintenance: A software program product that manages all protection
things to do in an organisation

2.15 CASE STUDY: FAILURE OF SUCCESSION PLANNING AT RELIANCE

INDUSTRIES LTD (RIL)
Case Objective
The aim of this case is to describe the failure of succession planning in the organisation.
The Reliance Group was established by Dhirubhai Ambani. Reliance Group was known to be India’s
largest business house with over Rs 900 billion of total revenues in 2004 equivalent to 3.5% of India’s
Gross Domestic Product.
In 2002, Dhirubhai Ambani died and after his demise, the two brothers, Mukesh and Anil Ambani
were running the Reliance Group. In 2004, Mukesh Ambani accepted publicly that there were some
“ownership problems” between him and Anil. Anil Ambani also began criticising the corporate
governance practices at Reliance Industries as those practices were managed by Mukesh Ambani. This
case shows the importance and role of succession planning in family-run businesses and inculcates
issues like corporate governance, control and ownership.
Sometimes companies fail to have a comprehensive and detailed succession planning process and thus
fail to implement the transition of the successor when a leader leaves or takes retirement. Something
similar happened to Reliance Industries after the death of Dhirubhai Ambani, the founding patriarch,
in 2002.
The reliance was not ready with a comprehensive succession plan assuming the next successor in the
family will be the successor of the group as well. However, the family dispute that followed the death of

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Dhirubhai Ambani, highlights the importance and role of succession planning even in family businesses.
It becomes more important in family businesses as legal and institutional arrangements to regulate the
entities and governance activities of the organisation are yet to be developed. The dispute originated over
the roles and duties of the two brothers in various business activities. A lack of succession planningwent
beyond souring personal relations. Being one of the largest and most successful companies, it affected
the stock of the company and the wealth of shareholders.
Finally, a ceasefire agreement was made between the brothers. Kokilaben, the wife of Dhirubhai Ambani,
played an important role in bringing her sons to this agreement. During the dispute and until the
agreement was signed, the RIL empire already suffered an erosion of its values, diversification benefits,
synergies, economies of scale and complementarities and was split between two brothers.

Question
1. Define Succession Planning.
(Hint: deciding the successor for future, proper evaluation of skills and capabilities)
2. Without succession planning what type of issues may
arise? (Hint: employee turnover, low productivity, less
profit, conflicts)

3. Explain the issues faced by Ambani after the sudden

demise of Dhirubhai.

(Hint: internal conflicts related to ownership control, succession planning of Family-run

businesses)

2.16 Self- Assessment questions

B. Descriptive Questions:
1. Differentiate between performance appraisal and performance management.
2. Define Succession Planning.
3. Explain how succession planning is performed.
4. Describe the concept of Enterprise Performance Management.

2.17 Answers for Self- Assessment questions

A. Hints for Essay Type Questions

1. Performance management is the systematic method to measure the overall performance of
employees. Performance appraisal is a rigid process that is performed annually.

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 Refer to sectionDifference between Performance Management and Performance Appraisal
2. Succession planning is a process of ensuring a suitable supply of successors for future key jobs in an
organisation. In other words, it is a process of recognising and developing the potential of employees
within the organisation to fill key job positions. Refer to section Succession Planning
3. Succession planning and career planning are complementary to each other. This is because, in the
absence of career planning, successors cannot be identified for future job positions. Refer to section
Succession Planning
4. Enterprise Performance Management (EPM) software program helps you analyse, understand and
document your business. EPM refers to the strategies designed to assist businesses plan, budget,
forecast and document commercial enterprise overall performance as nicely as consolidating and
finalise monetary effects (often referred to as “closing the books”). Refer to section Oracle’s EPM

2.18 Post Unit Reading Material

 https://www.projectguru.in/models-and-theories-of-performance-management-system/
 https://www.investopedia.com/terms/p/performance-management.asp

2.19 Topics for Discussion Forums

 Discuss with your friend about what things can be done to increase the productivity of an
employeewith the use of performance management techniques.

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