Chapter 25

Question 1

What are internal barriers to career advancement

Answer 1

These hurdles are generated from inside organization. These are

• Lack of resources, time and budget
• Rigid job specifications
• Lack of leadership
• Short-term focus
• Lack of career opportunities

Question 2

What are successful career management practices

Answer 2

• Placing clear expectations
• Opportunity to transfer
• Provide clear succession plan
• Rewards system
• Continue assessment of skills and career direction
• Set long-term and short-term career goals

Question 3

What is performance

Answer 3

Performance = A*E*S
A = Ability
E = Effort
S = Organizational support

Question 4

Performance is function of what

Answer 4

Performance = f(Ability, Motivation, Opportunity)

Question 5

What is cash flow

Answer 5

Cash coming in and out

Question 6

What are 3 indicators of performance of company for financial perspective

Answer 6

1. Survive = Cash flow
2. Maintain = Quarterly sales growth and operating income
3. Prosper = Increased market share, profit, ROI

Question 7

What are 4 indicators of performance of company for customer perspective

Answer 7

1. New products = Percentage of sales derived from new products
2. Value = Competitive pricing, product quality
3. Brand loyalty = Market share
4. Customer satisfaction = Repeat business, response time, accuracy and minimal product returns

Question 8

What are 3 indicators of performance of company for innovation, learning and equity perspective

Answer 8

1. Leadership = Staff development and learning, participation
2. Staff stability = Employee retention, turnover trends (people leaving company), satisfaction and loyalty
3. Innovation = Continuous process improvement and redesign, creativity valued

Question 9

What are 2 indicators of performance of company for internal business perspective

Answer 9

1. Manufacturing excellence = product develop cycle time, unit cost, time to market
2. Design and productivity = Efficiency, material yields

Question 10

What are the factors for sustainable performance

Answer 10

• Valid performance measurement
• Value of reward and negative consequence
• Ongoing feedback
• Enhanced motivation and productivity
• Assists in validating studies
• Detects problems
• Help evaluate change efforts
• Provide basis for making decisions
• Differentiate employees in job-related areas
• Help ensure legal compliance

Question 11

What is performance management

Answer 11

Performance management means getting better results by understanding and managing performance within an agreed framework of planned goals, standards and competence requirements.