Class Notes (837,612)
Canada (510,370)
Accounting (91)
ACCT 301 (31)
All (31)

Standard setting and performance management.docx

2 Pages
Unlock Document

ACCT 301
All Professors

Standard setting and performance management Objectives • Define the term performance management • Identify a process for establishing work standards and performance management • Outline a method to establish performance indicators • Illustrate ways of applying performance management • Describe management contribution to personal development planning • Explain the term ‘performance related pay’ Define the term performance management Performance management is a means of getting better results by understanding and managing performance within an agreed framework of planned goals, standard and competence requirements. • It is an ongoing communication process that involves both the performance manager and the employee in: o Identifying and describing essential job functions o Developing realistic and appropriate performance standards o Giving and receiving feedback o Performance evaluations o Planning education and development Identify a process for establishing work standards and performance management The performance management process provides an opportunity for the employee and performance manager to create a plan for achieving development goals: • Strategic plans and annual goals o Job description and essential functions Standard of performance • Performance observation and feedback o Performance development plan It must also consider the emerging environment with five main areas: 1. Economy 2. government 3. social 4. technology 5. competition Outline a method to establish performance indicators • Standards should be written in clear and understandable language o Describing the specific behaviors and actions required for work performance o They should also be:  Consistent Realistic Specific  Measurable Challenging Dynamic o The org reporting system should be able to
More Less

Related notes for ACCT 301

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.