The Design of Cost Efficient Performance Measures Introduction Performance measurement, as an important concept in the field of management accounting, is defined as a systematic approach to assess the efficiency and effectiveness of a company’s programmes in achieving organizational objectives using measurable indicators based on financial and non-financial data of the company (CIMA, 2005, p.46). To ensure that a company’s activities and strategies are orientated to the organization’s goals and
With this, the company is able to enhance its performance much more in the international market. However, if the company is unable to use this strategy properly, then sustainable growth rate would definitely decrease (Boundless, 2016). Considerably, external growth strategy is like the internal growth
Sinopec Group’s organisational structure, business operation and the lessons that can be learned from the organisation. 2. Background of Sinopec Group Established in July 1998, Sinopec Group, formerly known as China PetroChemical Corporation, is one of the largest oil and gas players in China.
from EBSCO library, search engines and other relevant sources. These materials provide an insightful depth in the study thereby demonstrating the efficacy of developing an effective performance appraisal strategy as a tool for enhancing employee motivation. Key words: Performance Appraisal, Motivation, performance management, human resource management and Chevron Nigeria. 2.2 MOTIVATING THE WORK FORCE According to Flippo (2002), “Motivation is the process of attempting to influence others to
2.1 Introduction The purpose of this chapter is to review the existing literature pertaining to the core construct of the study. Mainly the constructs which are going to be explored in this study are based on the renowned two theories called institutional theory and resource based view theory. The reason to relate institutional theory on adoption of green supply chain practices is due to supply chain management involves the corporation and interaction among multiple stakeholders. Further, decision
be in congruence with its organizational objectives. The two most common key approaches to SHRM are best practice and best fit. Many businesses argue which one is the more efficient strategy in terms of improving the overall performance of an organization. According to Armstrong and Taylor, 2014 the best practice model refers to the belief of the existence of universal HR strategies that once adopted will lead to high quality level organizational performance. Such practices involve carefully
to analysis how HMC to use global business development in China automobiles industry by explain the international business environment such as economic, culture, political and legal aspect, to master the background knowledge for being successful in China. China is variety, immense diversity and complexity as well as enormous competitive intensity, which are a rivaled by other market in the world. HMC understand the characteristic of China make it easy to capture the market position. The article also
oz cans of tomato soup. As of now, the company is at the third, the company acquired cracker business. Next step, the company has decided to expand into second soup 10oz cans of tomato soup and it sells to four plants and due to the expansion into China the revenue has grown 3%. Strategic management process is the process through which managers formulate and implement strategies to optimizing strategic goal achievement. One of the main general goals was to reduce cost while adding one product, and
organization has the main purpose of earning good profit and the most important element in achieving that purpose is to satisfy its customer. Customer satisfaction eventually leads to good profit and a larger share in the market. Good and healthy organizational cultural can help in achieving the customer satisfaction that can assist in making healthy relations with customers as well. The ability of an employee to communicate inside and outside an organization depends heavily upon their interpersonal
Employee attrition was found pertaining to the IT sector specifically in the context of a developing country like India, Africa, China etc., It isn’t always unusual nowadays to study in the newspapers or see on television that employees here or elsewhere are enticing on business action or are threatening to leave their jobs. (Chinonona, Chinomona & Joubert, 2013). Though, evidence shows that it is more expensive for companies to hire new employees than it’s miles to retain currently serving employees