Corporate Performance Management: Understanding Key Indicators and Skill Development

This guide provides an in-depth look at corporate performance management, including key indicators and skill development. Learn about the importance of efficiency, quality, and risk assessment in business management. Discover how to improve your personal development and future career prospects with this course.

RUNNING HEAD: CORPORATE PERFORMANCE MANAGEMENT
Corporate performance management

CORPORATE PERFORMANCE MANAGEMENT 2
Table of contents
Background......................................................................................................................................3
About the course..............................................................................................................................4
Skill development............................................................................................................................7
Future career plan............................................................................................................................8
References........................................................................................................................................9
2

CORPORATE PERFORMANCE MANAGEMENT 3
Background
The corporate performance management is that business area of intelligence in which monitoring
and managing of a business organization are done through their performance. The key indicators,
in this case, are the returns on the investment, revenue, operational costs, and the overheads. This
arena is also referred to as business performance management. The performance management in
context to an organization revolves around the behaviors and the interests in terms of an
organization. There are various activities in relation to the approaches of business performance
management. I had gained knowledge about employee management, team development, and key
performance indicators.
3

CORPORATE PERFORMANCE MANAGEMENT 4
About the course
At the beginning of the course, I hardly knew about performance management and its variations.
I only had a general idea in context to the organizational business. Management to me was only
to coordinate the activities of the organizational business. I hardly knew about task management
and the other branches in context to business management. I developed knowledge gradually
after going to a series of classes. The things at I had perceived earlier was nothing to the things
that I learned later in the course of development.
I thought performance management is only a management process by which the organizational
performance can be derived. I did not know that performance management is responsible for the
evaluation of the team members and the workers in context to a business organization. I hardly
knew any theories and models about performance management.
I learned a lot by studying corporate management and performance management in details. I
gathered a lot of information regarding Kolb's theory and learning system. I gained knowledge
about the learning cycle in context to the Kolb's theory. As commented by Mtar and Bannour
Sfar (2017, p. 104), this theory is adhered with experiences like the concrete experience, abstract
conceptualization, reflective observation in context to the new experiences and active
experimentation.
4

CORPORATE PERFORMANCE MANAGEMENT 5
Figure 1: Kolb’s learning experiences
(Source: created by the learner)
As commented by Jackall (2017, p. 183), this theory majorly stresses in context to the effective
learning through four stages. These stages include:
 Having concrete experiences
 The formation of the analysis and the generalizations
 Reflection and observation in context to that experience
 As commented by Welford (2016, p. 3), using the hypothesis for the formation in context
to the new experiences
5

CORPORATE PERFORMANCE MANAGEMENT 6
Figure 2: the effective learning process
(Source: Created by the Learner)
I learned about the perception continuum and the processing continuum in context to the theories
and the models provided. At the beginning of the study, I hardly knew about the continuums and
the tasks in context to the Kolb's theory.
Figure 3: perception and processing continuums
6

CORPORATE PERFORMANCE MANAGEMENT 7
(Source: Created by the Learner)
Skill development
I learned that management is not only about business but also about personal development. I had
developed personally throughout the course of the study. My communication skills have
developed in context to the interpersonal and leadership skills. As commented by Ryu and Jang
(2015, p.14), an organization can only benefit if its workers have the potentiality to communicate
fluently and show leadership skills. I gradually developed my interpersonal skills so that it can
benefit my future. Leadership is very important in context to organizational business
management. I further learned how to improve the quality of the business by adhering to the
organizational performance. As stated by Hasan et al., (2017, p. 2), the strengths and the
weakness of the organization can be monitored by having an in-depth knowledge about
performance management. I hardly knew anything about OPM at the beginning of the course but
now I am well acquainted about the course and also the tools that can help procure the business
in successful terms. Organizations like Adobe and Google are making the use in context to the
organizational performance management. This has been supported by the Kolb’s circle.
Another outcome that I adhered was that nowadays the organizations are more focused on the
quality of the business rather than quantity. As commented by Grassa (2016, p. 903), the
satisfaction of the consumers, employees, successful planning and the brand preference are given
innate values. As commented by Jackall (2017, p. 186), the Key Performance indicator is
responsible for tracking the goals and the strategies in context to the organization. I learned that
the key performance indicator helps the business of the organization to flourish and procure
effective results. The strategic decisions, tracking the sources, staffs and the performance are
done by KPI.
I entailed that in business organization efficiency and the effectiveness are seen in terms of the
outcomes and the outputs. As commented b y Okoye et al., (2017, p. 2), the tasks are important
and need to handle with care maintaining the priority of the clients. Efficiency will only come
out when the team members are efficient.
I understood the value in context to risk assessment. Assessing the risk to an organization is
entailed the foremost important thing. As commented by Majocchi et al., (2015, p. 308), the role
7

CORPORATE PERFORMANCE MANAGEMENT 8
of risk is catered in terms of sustainability and quality. I learned the importance of continuous
improvement and that it is essential for a business to come up with new technologies and ideas to
make it a success in the long run.
Future career plan
My future career plan is to open a business that will be effective and efficient. In the course of
the study, I learned that efficiency and quality are very important to sustain a business and my
business venture will incorporate all the qualities to open a good business. I understood the
importance of innovation and technology and I will try to incorporate that in my business plan.
My business plan will be flexible and quality oriented. After several studies, I found that in this
competitive market people only look for quantity oriented jobs. But my companies will ensure
that quality is looked after at the first place. My organization will be man oriented rather than
task oriented.
I have grasped knowledge throughout my course and it has helped me to develop a lot in
personal terms. I understood the importance of Professional development and effectiveness of it.
Opening a business venture will help me take my career forward in context to what I have
learned throughout my journey.
8

CORPORATE PERFORMANCE MANAGEMENT 9
References
Grassa, R., 2016. Corporate governance and credit rating in Islamic banks: Does Shariah
governance matters?. Journal of Management & Governance, 20(4), pp.875-906.
Hasan, M.S., Omar, N., Barnes, P. and Hassan, A.R., 2017. Using corporate accruals to evaluate
management quality: Evidence from Asian countries. Aestimatio, (15), p.2.
Jackall, R., 2017. Moral mazes: Bureaucracy and managerial work. In The Anthropology of
Organisations (pp. 183-195). Routledge.
Majocchi, A., Dalla Valle, L. and D'Angelo, A., 2015. Internationalisation, cultural distance and
country characteristics: a Bayesian analysis of SMEs financial performance. Journal of Business
Economics and Management, 16(2), pp.307-324.
Mtar, K. and Bannour Ep Sfar, S., 2017. Eco-label effects on French manufacturing firms’
performance. Human Systems Management, 36(2), pp.103-114.
Okoye, E.I., Chiekezie, N.R., Egbunike, P.A. and Odum, A.N., 2015. Modeling for the Effects of
Competitors Focused Accounting on Financial Performance in Selected Manufacturing
Companies Listed on Nigeria Stock Exchange.
Ryu, H.G. and Jang, W.H., 2015. The Effect of Competence and Competitive Strategy on
Performance in Special Hospitals and the Moderating Effect of the Business Environment. The
Korean Journal of Health Service Management, 9(4), pp.13-32.
Welford, R., 2016. Corporate environmental management 1: systems and strategies. Routledge,
p. 3.
9