Performance evaluation

Examples of Performance evaluation in the following topics:

• Evaluating Employee Performance

  • Performance evaluation is the process of assessing an employee's job performance and productivity over a specified period of time.
  • Performance evaluation, or performance appraisal (PA), is the process of assessing an employee's job performance and productivity.
  • An ineffective performance-evaluation system can create high turnover and reduce employee productivity.
  • Objective production: Under this method, direct data is used to evaluate the performance of an employee.
  • Graphic rating scale: Graphic rating scales are the most commonly used performance-evaluation system.

• Principle-Agent Problem

  • In business relationships, the principal will use performance evaluations to ensure that the agent is fulfilling the necessary duties.
  • There are two forms of performance evaluation:
  • objective performance evaluation - takes into account how fast a task can be completed.
  • The evaluation compares the performance of an agent by comparing the work completed by peers within the industry.
  • subjective performance evaluation - involves the principal directly evaluating the performance of the agent.

• Measuring Vendor Performance

  • Performing a value analysis (an evaluation of each component of a potential purchase).
  • Performing a vendor analysis (a formal, systematic evaluation of current and potential vendors).
  • Step 5 of the business buying decision process involves evaluating product and supplier performance.
  • Supplier performance evaluation teams are used to monitor activity and performance data, and to rate vendors.
  • Describe the different tactics B2B companies use to search for and evaluate products and supplier performance

• Methods for Evaluating Marketing Performance

  • Organizations use various methods to evaluate marketing key performance indicators (KPIs) or metrics.
  • Marketing Performance Measurement, Marketing Performance Management, Marketing Return on Investment (ROI), Return on Marketing Investment (ROMI), and Accountable Marketing are all metrics that companies use to connect marketing performance to the financial performance of the organization.
  • The methods for evaluating the performance of, and responses to, these materials range from simple calculations measuring return on investment, to tallying the number of visits to a website.
  • Independent organizations such as the Advertising Research Foundation evaluate the validity of commonly used measurement systems to produce standards and best practices for evaluating marketing and advertising data.
  • Using an established methodology to evaluate marketing effectiveness helps companies accurately measure performance and assess business needs.

• Measuring Organizational Performance

  • This requires two types of measurement: individual (employee) evaluations and organization evaluations.
  • Employee performance evaluations should be done on a quarterly, semi-annual, or annual basis.
  • This ensures that everyone in the organization understands when the next evaluation will take place, gives the company regular measures of performance, and provides opportunities to take corrective action in a timely manner (if necessary).
  • There are many different performance measurement tools available, such as organizational and employee performance evaluations.
  • Best practices: In the context of evaluating internal operations (comparing core processes to effectiveness and efficiency standards), how does current performance compare to benchmarks of past performance, performance in the industry, and political expectations?

• Performance Assessment

  • A performance appraisal is done to assess an employee's job performance and productivity on certain preestablished criteria and objectives.
  • A performance appraisal (PA) or performance evaluation is a systematic and periodic process that assesses an individual employee's job performance and productivity, in relation to certain preestablished criteria and organizational objectives.
  • A private conference is often scheduled to discuss the evaluation.
  • The process of an evaluation may include one or more of these things:
  • A performance appraisal (PA) or performance evaluation is a systematic and periodic process that assesses an individual employee's job performance and productivity in relation to certain preestablished criteria and organizational objectives.

• Introduction to Pure Competition

  • Purely competitive markets are used as the benchmark to evaluate market performance.
  • It is generally believed that market structure influences the behavior and performance of agents with in the market.
  • Structure influences conduct which, in turn affects performance.

• The Importance of Evaluating Marketing Performance

  • Evaluating marketing performance guides future marketing initiatives and helps a company achieve its goals.
  • Ideally, marketing performance measurement should be a logical extension of the planning and budgeting exercise that happens before a company's fiscal year.
  • Companies employ various methodologies to measure marketing performance and ensure they meet those performance goals.
  • Marketing performance metrics or key performance indicators (KPIs) are useful not only for marketing professionals, but also for non-marketing executives.
  • Evaluating marketing performance helps companies plan and budget for the following fiscal year.

• Evaluating Performance: Who, What, and How

  • Performance appraisal is the organized process of evaluating the job performance of employees according to organizational standards.
  • Performance appraisal or performance evaluation refers to the ongoing, organized process of evaluating the job performance of individual employees according to set standards of the organization.
  • This process generally takes the form of judgmental evaluation of the employee and objective performance measures.
  • Judgmental evaluation is generally the biggest part of the PA process.
  • Judgmental evaluations typically rate employees in certain set performance areas by rating them on a numerical scale for how much of a desired quality they possess.

• The Importance of Performance Targets

  • Managerial effectiveness is often assessed on the ability to achieve performance targets.
  • A key performance indicator is a tool for performance measurement used by organizations.
  • It is also used to evaluate the overall success of the organization and the success of a specific activity in the organization.
  • Challenging goals tend to result in higher performance than easy or no goals.
  • The SMARTER framework expands upon this model by noting that objectives should be evaluated and reviewed consistently as well.