Paraphrase for Performance Measurement Systems -myassignmenthelp

Question: Discuss about theParaphrase for Performance Measurement Systems. Answer: Planning: Theory: Planning helps to design a possible action that needs to be undertaken by a company. In order to achieve the successful implementation of any organizational strategy, the company must plan how it will allocate its various resources and how will it use organizational capacities in the most effective way. Planning is an important step that involves the act of formulating goals as well as envisioning strategies for future success. The formulation of business specific objectives can only helps in understanding the procedures of achieving organizational success (Lent Brown, 2013). As a result, the planning skill is an important skill required to be present in a manager. Business planning as well as strategic planning needs to be executed simultaneously or individually depending on the expectation and strategy of the organization. An effective planning skill helps a manager predict the possibility of performance degradation of employees or anticipate the possibility of organizational fail ure in the long run, and adopt effective strategies that can help to combat the same (Miner, 2015). However, the goals set by the manager must be framed in accordance with the performance measurement systems approved by the company. The business plan of an organization usually comprises of the business and product description, an analysed report on market condition, the implementation strategy of the formulated plan as well as a budget plan. The section named companys descriptions helps in enlighrening the reader about the companys vision, its organizational structure and its legal obligations. On the other hand, the product descriptions section helps in giving an insight into the unique features of the product. The market analysis report provides detailed idea about the market size, the nature of competition and the demographic details of the consumers (Morgeson et al., 2013). Again, the implementation strategy details how the plan can be executed using the available resources. Lastly, the budget plan will help in showing how much expense is incurred on each course of action, and includes a balance sheet, cost and cash flow analysis and a budget. A strategic planning is equally important as it helps the company to evaluate the internal and external factors that may deserve attention as far as the implementation of organizational plans is concerned (Mathieu et al., 2016). Findings: The responses as recorded by interviewing the manager suggested that a common practice of planning is followed in the organization. Yet at the same time, there remains certain discrepancies as the business plan or the strategic plan has not be properly addressed by the respective personnel such as the Security Manager and Operations Manager. There seems to be limited opportunity for innovative plans in the Victoria University planning process (McShane Von, 2015). As evident from the responses of the interviewees, the planning process has been divided into various parts and each part of the planning process is being assigned to a distinct level of management. For instance, the strategic planning is expected to be carried by the management level of employees, while the task of operative as well as tactical planning has been allocated to the specific departments and middle management section of the organization. Analysis: After reflecting on the planning process of Victoria University, it can b suggested that a little bit of creativity and innovation need to be incorporated in the business plan. As the responses were being analyzed, it became evident that the excessive intervention of the organizational leaders in various levels of decision-making and planning process is hindering the prospect of creative planning process (Mihalache et al., 2014). It is recommended that the organization tries to implement the practice of implementing a collective framework of planning process, whereby the managers will also be involved in the planning process, so that they can offer a multifaceted impression of the performance if various sectors of the organization and accordingly implement corrective measures. Organizing: Theory: Often the managers in an organization are not able to accomplish successful implementation of the planned activities, simply because they fail to adopt an organized approach. The managers should have an organized approach while allocating each planned task to a specific person. The organized approach is also important as it helps in effective management as well as proper coordination during the planning process. This is important as it helps the employees understand the exact needs and expectations of the organization (Nahavandi et al., 2013). It is the duy of the manager to secure the levels of authority, allocate the planned activities effectively to the employees and thereby organize the entire workforce. Without an organized approach, the manager will fail to explain the organizational structure to the employees that will explain how each planned activity has been distributed amongst the different levels of the employees (Pinder, 2014). The organizational structure is defined as the interrelation existing between the various departments of the organization and the individual and their common functions. Adapting the organizational structure of a hierarchy actually refers to the categorical distribution of the relevant levels in an organization, and the employees enjoying a high position in a hierarchy usually enjoy additional power and responsibility at the same time. As far as the organizational function of a manager is concerned, he is responsible for delegating the duties to the respective employees (Robbins and Judge, 2012). The managers should take into consideration the existing activities alongside the strategic changes that needs to be incorportaed in the tasks. The manager should first understand the skills and abilities of the employees, and accordingly only should assign the tasks to the employees of different departments. As an organizer, the manager should try t unite and integrate the activities of the similar groups and increase the division of work in the organization. Since the departmental organization helps in limiting the size of the tasks, it becomes easier for the employees to achieve the tasks as well. The next stage in the process of organization is to categorize the authority, that also involves understanding the consequences for the exchange of responsibility as well as reporting ( Stadler , 2015). There are various ways by which a manager can departmentalize the work, as he may organize the work by function, geography, product type or customer base. Some of the large scale organizations have been found using multiple methods of departmentalization. Besides, the act of organizing also involves the act of designing the individual jobs within the workplace. The leaders should try to strike a balance between responsibility and authority so that the head of each department does end up misusing their positions. Findings : The organizational aspect of the planning process has been considered to an important aspect in the management process at Victoria University. As suggested from the responses of the managers, the managers the organization process by aligning it with the management of the human resources, financial resources and other resources (Wagner Hollenbeck, 2014). The managers keep on organizing various interactive sessions with the employees, that help them to develop a clear understanding of the responsibilities of their assigned works that ensure effective implementation of the strategic plans (Shortell Kaluzny, 2013). Analysis: As per the response of the manager of the organization, Mrs. Geeta Kumar, the organizational function plays an important role in order to organize every resource at the right time and right place and ensures the accomplishment of the organizational goals. By reflecting on the organization capability of the given organization, it can be stated that the organization needs to adopt a sophisticated communication channel, that will help to link the various departments of the organization, and will help in effective implementation of the strategic plans (Shortell Kaluzny, 2013). In order to improve the leadership skills within the organization, the managers can also consider the idea of reorganizing the activities of various leaders of the organization. Leading: Theory: The third important function of a manager is to lead the employees in each activities in order t ensure successful implementation of the plans. The process of leading the employees helps the managers to motivate the employees, interact and communicate with the employees so that they can successfully fulfill the needs and expectations of the organization. The managers are capable of commpnading the employees since they enjoy the leadership position within the organization (McShane Von, 2015). The managers should not only allocate the jobs to the respective employees, but need to inform them about the specific requirements of the tasks, while enjoying their leadership position (Robbins Judge, 2012). The managers should also supervise that th employee are able to meet the task deadlines and provide guidance in case the employees lack competence to achieve a particular task. Findings: As far as the Victoria University is concerned, it has been observed that the leadership style of the executives play an important role in motivating the large workforce of the organization. The leaders of the organization follow a democratic and participatory leadership style which encourage all the employees of the organization participate in the decision-making process and resolve the issues of the organization (Nahavandi et al., 2013). As per the responses of the interview, the executives of the Victoria University assume situations that help them to react to the complex and multiple changes within the business market. At the same time, it is to be noted that the emergence theory is also important feature that characterizes the leadership function of the organization. Analysis: The analysis of the leadership functions of Victoria University shows that the participatory style of leadership is appreciated by most of the employees of the organization that help in talent retention. However, the financial compensation constraints are often unnoticed by the management authority. Hence, the senior managers need to respond to the financial as well as the non-financial motivation in order to improve and retain employees.