International performance management

Did you know that according to the World Investment Report in 2009, published by the United Nations Conference on Trade and Development (UNCERTAIN there was a total of 889,416 multinational companies around the world. Http:/Ft. WV. Numbered. Net. ‘numberÂCfOffcC#Unmans#1026;lnвLen#1026;the-world/ http:// That means that there is a lot of corporations out there that operate in multiple countries. So how can one corporation achieve that competitive edge over the others?

Research suggests that in order to Increase our competitiveness In world markets, we must make a greater effort to increase the productivity of our workplaces by making more effective use of our existing human and material resources to reduce costs and prices (Smith, 1967). A high performance level Is maintained in leading companies in many Industries by applying purposeful management techniques which have been tried and proved. This is where performance management comes in.

Ferreira and Otley (2Outletterm performance management as the assembly of procedures that define, control and manage both the achievement of outcomes as well as the means used to achieve these results at an organisaorganizationalIs It viable however to use the same practices and procedures that you would use in a domestic company in a multinational corporation? Yes, in some aspects, but managing international performance is on an entire different level.

Roure, ARouéz,Olivarez-pont & NPont (1Noonestablished that In international organisaorganizationscial distance generated y different cultures, backgrounds, careers and experiences of the staff, Is intensified by physical distance, which makes managerial performance extremely difficult. 1 OF3 of tOFF presentation is to demonstrate to you all that it is imperative for managers to have in international perspective when dealing with performance in a global context.

And like, Dowling, Festing Fisting (2013) emphasize, one of the significant elements in the system of a multinational firm is monitoring performance and ensuring conformity to agreed-upon standards. BRUMBACKBAREBACK11). Performance management fundamentals. Industrial and Organizational Psychology, 4(2), 182-183. (1993). Managing internationally: International dimensions of the managerial task. European Management journal, 1 1(4), 485-492. Ferreira and Otley, 2Outlet. Ferreira, D.

Otley ThOutletign and Use of Performance Management Systems: An Extended Framework for Analysis Management Accounting Research, 20 (2009), pp. 263-up2 Dowling, P. J. , Festing,Fistingngle snr, A. sin(2013) International Human Resource Management: Managing People in a Multinational context. 6th edit6th. Thomson, Melbourne. smith, VSmith67). PERFORMANCE MANAGEMENT. Management DectstonDetection42. Brief overview of the company we have chosen – how many countries its located in? – why it is a global company? – some challenges its facing?

Try use references where possible, maybe find some Journal articles on benefits of going global and try link it in with the companies objectives etc. (also use quotes from the company website) 3 Brief discussion of why international performance management is important (references! ) What are challenges of performance management internationally? E. g. non-cGmpNonble data, the volatility of global environment, effect of distance/time, level of maturity, legal compliance etc. use refeUseces) Go into detail of some examples of challenges our chosen company may face? Diversity in cultures, production and operations, geographical dispersal all combine to make performance management processes that are simultaneously locally relevant and globally comparable a major challenge for human resource managers. ” P. 1 51 -Text book 4 How performance management can be used as a control mechanism to respond to these challenges? E. g. host GnvHostment, cultural adjustment, headquarters support, appraisal etc. International practices companies can use to manage performance(references!

Practices that are used by our chosen company 5 Overview of performance appraisal and its importance in successfully managing performance internationally, talk about theory and use references!! Issues relating to performance appraisal of employees in international companies Link theory with Summary and conclusion Appraisal Managers should appraise the performance of their employees and, more importantly, identify the individual’s potential for success in a more seasoned way. Therefore, any differences in the way managers interpret, appraise and respond to the performance of their subordinates should be eliminated.