Performance Management

Paper Summary:

This paper summarizes several concepts of performance management that are utilized within the corporate world and within organizations. The paper provides details on each of these concepts and, in some cases, discusses their pros and cons.

Paper Outline
The Economic Value added Strategy
The Balanced Scorecard (BSC)
Change Management
Quality of Service Issues Faced
The Baldridge Criteria for Performance Excellence
EFQM Excellence Model
Organizational Culture and Structure
Shortcoming of the Quality Models
Bibliography

From the Paper:

"This award focuses on interdependent core values and concepts that exist within the organization. Some of these variables are "Leadership; Strategic Planning; Customer and Market Focus; Measurement, Analysis, and Knowledge Management; Human Resource Focus; Process Management; and Business Results." (NIST, 2004a) The award process lists ten steps that can be used by organizations to complete the process and model the company based on these awards. It is clear that "the Baldrige model is the same as quality management plus results." (Dean & Tomovic, 2004) It has also been observed that companies that employ TQM practices achieve "better employee relations, higher productivity, greater customer satisfaction, increased market share and improved profitability" (Dean & Tomovic, 2004)"

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