However, this is all pretty confusing to understanding and more so within the business circles and the related processes in which managers perform their duties and tasks.Organizations in the present times are doing their utmost in order to know more and more about their valued customers and stakeholders. For this, they have devised certain strategies that are in line with the values that their business has set for itself. These values are thus deeply intrinsic within the mission and vision statements of the company. In order to gain further knowledge about the customers, research is being given proper emphasis which would eventually discern the exact basis for the customers to come and make that vital purchase. It is a fact that the business world of present times can have a lot of improvement within their ranks if they adopt the policy of working towards the establishment of a performance management system. This would guarantee them a lot of success as their employees and workers would dedicate their wholehearted efforts towards the well being of the company as well as towards their own individual capacities. Also, these would not care for the long term gains or the short term ones as long as the company is benefiting from their actions and one should believe that at the end of the day, the same is very significant, to say the least. [Dean, 2002] Once these performance management systems are installed and in place, we can have a proper check and balance mechanism as concerns to the people who are working in the company. Performance management systems make use of the fact that performance is increased on the part of all concerned and there is no shortfall as concerns to commitment, dedication, and devotion when at work.The performance management systems can ensure the right people for getting the bonuses, incentives, and so on as well as point out the ones who have fallen short on the company’s expectations over aperiod of time.
The Ways of ProblemSolving in Management