Reward and Performance

PERFORMANCE MANAGEMENT TECHNIQUE

REWARDS AND PERFORMANCE MANAGEMENT

7/5/2013

BLUESTAR LTD

Arun Paul Jerine F11069

Contents

INTRODUCTION 2

PERFORMANCE MANAGEMENT 3

PURPOSE OF PERFORMANCE MANAGEMENT SYSTEM 4

BLUESTAR’S PERFORMANCE MANAGEMENT SYSTEM 5

360-DEGREE FEEDBACK PERFORMANCE MANAGEMENT SYSTEM 6

Key Inferences 8

Steps in the Implementation Process 8

Important aspects of 360 degree method in Blue Star Ltd: 9

MANAGEMENT BY OBJECTIVES 10

Definitions of Management by Objectives MBO 10

Features of Management by Objectives MBO:- 11

Steps In Management By Objectives 11

Advantages of Management by Objectives MBO 13

Limitations of Management by Objectives MBO 14

Important aspects of MBO in Blue Star Ltd 15

Conclusion 15

INTRODUCTION

I did in my summer internship at Blue Star Ltd, Chennai. The two months gave me valuable insights about the area of Human Resources and its nuances. Even though I was part of the recruitment process I got certain opportunities to know about the other aspects of the Human Resources Department. In that Performance Management Process was a vital one as it is highly valuable for any organization as well as any individual.

In Blue Star the Performance Management Process was done rigorously and in a robust manner. I got an opportunity in studying the assessment forms and the KRA have been assigned to each individual. The company was following a rating scale as well as the Management by Objectives method .But as a traditional organization 360 Degree feedback method was the vital technique that was followed.

In this assignment I have briefly described about 360 Degree method and the Management by Objective method effectively. And I have discussed about the impact that it has created on the organization.

PERFORMANCE MANAGEMENT

Performance Management is a process were an individual’s performance on the job is observed and that brings together many people...