Week 1 Assignment 2
Shelby D. Williams
Mid America Christian University
MGMT 3213
Professor Annette Gunter
28 Jan 2017 Abstract
This paper will be based on the California Review Management study called "Misunderstanding the Nature of Company Performance: The Halo Effect and Other Business Delusions" by Phil Rosenzweig. The research processes that have been completed on business performances over the years, and the strengths and weaknesses of the types of data used will be discussed. The Halo Effect will be evaluated, and examples from my career will be given to help with understanding the topic at hand. I will give thoughts, ideas, and solutions I plan to adapt and work on in my career to help avoid the Halo Effect in my daily life
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For this research, the companies researched were chosen based on the independent variable of outcome---success. When researching how operations and other factors affect a company 's success, the testing needs to include companies with different success levels. If the data are based only on successful companies, there is not any comparison to show what they were doing differently to make them successful. For example, all of the successful companies have an owner, but that is not what makes them successful. All companies successful or not are owned by someone. The other studies that Rosenzweig explains are "1994---Built to Last: Successful Habits of Visionary Companies" and "2001---Good to Great: Why Some Companies Make the Leap...and Other Don 't." These studies are considered more accurate on the basis of successful companies being compared to less successful companies, but Rosenzweig points out a separate fault within. The latter cases did extensive research, but the majority of the data came from publications and articles published by journalists. Rosenzweig uses these to introduce the Halo Effect. He explains that these studies, though they are more thorough with the samples, the data are based on highly on biased information, instead of getting the raw data from the companies.
The Halo Effect
There is a great importance put on business leadership, this is directly due to how a business not only functions but in how fruitful the company can become. A great leader essentially can take a business plan that is weak yet turn it into a success, whereas a poor leader stands a higher chance of ruining the best of business plans. That is why it is essential to develop effective leadership throughout a companies entire management program at all levels. How does one develop or retain strong leadership? Companies must be focused on hiring strategies that encompass very specific parameters, building from within whilst creating a strong foundation for employee development and succession planning. Leadership is essential in any organization. The style and theory embraced determines whether the company will or will not achieve their goals. in all cases theory must be embraced, as a companies theory, style, and strategy is greatly dependent on the industry the company is in (Sadler, 2014). “The behavioral theory is one of the widely used theories of management. It suggests that leaders are made and not born. It gives room for training to install leadership traits in leaders at the expense of denying them a chance. There are various leadership styles embraced by companies (Cyert, & March, 2005).” This paper takes a look at the management styles of two specific
Over the past five weeks, data has been collected from the process of getting my daughter, Sophie, ready for daycare in the morning. I have tracked six key areas, or steps, in the process: The time it takes to wake her up, The time it takes to get her to go to the bathroom, The time it takes to get her stuff ready, The time it takes to get her dressed, The time it takes to brush her teeth and hair, and The time it takes to get her into the car. In this paper, I will discuss what I have discovered based on this data, I will identify roadblocks to the process and recommend strategies to overcome them, and I will discuss the variables which affect the steps in the process. Finally I will discuss
There are many IT tools available that can assist learning. Within my place of employment we have Target Tracker software to manage and track pupil progress and learning, subject specific software such as Smart Learning and a fully implemented Virtual Learning Environment for the entire school.
I have selected Apple as the company that I will be following financially for the duration of Accounting 561. Not only am I a passionate Apple user, I also believe in how the company develops, creates, and markets their product lines for consumer use. They have created products that are so complex at their core with an extremely simple user experience, which has been nothing short of remarkable to watch from the time I was a child through adulthood. I look forward to studying the company and their financials further as we dive deeper into Accounting 561.
Amanda and Erica’s grades may differ for a variety of reasons. Studies show that the more academic activities a parent is involved in is significantly associated with their child having higher literacy achievement, lower rates of grade retention, and fewer years needing special education (Miedel & Reynolds, 2000). Amanda’s father’s income, education, and occupation also all correlate with her literacy abilities (Buckingham, Wheldall, & Beaman-Wheldall, 2013). Parental education has the strongest influence of the three (Buckingham, Wheldall, & Beaman-Wheldall, 2013).
Performance management relates to an organization’s ability to implement a system to evaluate and advance employee performance. Achieving peak performance requires consistency, clear objectives, and constructive employee evaluation. According to Mithas, Ramasubbu, & Sambamurthy (2011), an organization must design the performance management system based on extensive research about the organization’s mission, and then properly communicate the purpose of the system to employees, stakeholders, and decision makers. After the performing the research, the information should be used to establish the appropriate performance management specialized for the organization. In addition, an effective performance management system should align
A company creates value for its customers and attempts to differentiate its offerings from its competitors in the market. The performance goals/metrics are set by leadership which is concurrent with its business strategy.
Performance management is a tool that managers use to ensure that their companies remain at the top of their competitive edge. The Chartered Institute for Personnel Development (CIPD, 2008), defines performance management as a method by which individuals and teams are managed in a way that achieves high performance at an organisational level. The individuals within the organisation share an understanding of the achievement goals of the organisation. In order to achieve this, a general strategy is created, with each individual within the organisation understanding his or her role and requirements within such a strategy
Andrews (2014) pulled together considerable amounts of research about performance management from around the world and came to four conclusions:
To transform a good company to great company is all manages' dream, but only few of them make it. To find out the core factors which lead to a good company became a great company is very difficult, because in different era, different industry companies face different opportunities and threats. To begin the research for the Good-to-Great study, Jim Collins and his research team searched for companies that: performed at or below the general stock market for at least fifteen years; then at a transition point began to pull away from the competition, and sustained returns of at least 3 times the general market for the next fifteen years. He started with a list of 1,435 companies and found eleven that met his criteria.
As stated by Peter F. Drucker, “Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant.” Performance management is essential to achieving an organization 's mission statement and business goals, and also in attracting, retaining, and motivating qualified employees. There are many benefits and reasons why an organization should execute a performance management system. Performance appraisals establish the basis for qualifying, recognizing, and rewarding employee contributions. In this paper, I will discuss what performance management is, the problems with the current performance management system at my organization, how other organizations have succeeded in their performance management system and how I would advise management at my current organization to improve our performance management system.
Performance management is the process of planning work assignments, setting expectations, monitoring processes, rating performance, and rewarding performance. Performance management systems are used by organizations to identify, measure, and develop the performance of individuals and teams. The goal of an effective performance management system is to strategically align employee performance with company goals and objectives (Smither & London, 2009). In order to achieve optimal performance, organizations are tasked with implementing innovative solutions that ensure performance management systems that deliver real results and improve performance (MacMillan, 2015). Organizational leaders are responsible for understanding the performance management system in order to focus on employee efforts that will help in achieving both individual and organizational goals (Opm.gov). In this paper, the author will suggest the key processes that DSM needs to provide within its system in order to successfully link its key success factors (KSF). The author will select three drivers, and examine the central manner in which DSM management has aligned its business strategies to performance management. Lastly, the author will critique DSM’s competitive advantage by using three of the six assessment points outlined in the textbook.
Fraser Foods has divided teams to raise the morale of employees through various activities that keep them away from boredom and repetitive work and have made the company share profits with its employees so that they have a motive to achieve their goals.
High-performing organizations do not achieve their success through serendipity; success in the business world requires a planned and coordinated effort on the part of the workforce. This effort springs from abilities of an organization’s leaders. The entirety of the Business Policy Seminar has been an exercise in
Carroll, A.B., 1979. A Three Dimensional Conceptual Model of Corporate Performance. Academy of Management Review. Vol. 4, no.4, pp.497-505.