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Monitor the Performance of an Employee

   

Added on  2021-04-17

7 Pages948 Words39 Views
Running head: MONITOR PERFORMANCE 1MONITOR PERFOMANCE [Author][Institution]

MONITOR PERFOMANCE 2Essay1. Review of completed business planThe business plan was designed and developed for Fast Trade Couriers locatedat 6 Hill Road, Sydney Olympic Park, NSW 2127. The business was started on 15thJanuary 2003 as public listed proprietary limited company. The key products andservices that company is offering involve pickup and delivery of medium sized packagesall through Sydney. The business plan for Fast Trade Couriers has proper informationfor target market and marketing strategy with the consideration of strategic goals andvision of organization. Moreover, the business plan has been developed by focusing onthe financial information of company and conducting the market research about thedemand of such services. The management is majorly targeting the region of Sydneythat involves residential customers. The organization currently holds the 18% market share and looking forimprovement. The business plan will help to achieve that goal and by using informationabout the competitors and utilization of marketing tactics. Additionally, the business planinvolves information about the delivery and pick up services with solution to possibleissues that can help to encourage the services standards of company. The businessplan also provided details for organizational structure and needs of staff members tomaintain the required services standards. 2. Key performance objectives Initiate delivery within local NSW in 12 months’ durationEnhance sales by 40% over the future three yearsImprovement in the customer base

MONITOR PERFOMANCE 3To maintain positive relation with the existing customers 3. Test of performance measuresFor measuring the effectives of organizational performance and development ofplan to meet the objectives, the SWOT and market research activities were used.According to these tools, the current standards of services and issues have beenidentified for improvement in the plan (Landy and et al., 2017). Through expanding eachof the company’s businesses, it will be accessing a gradual increase of 25% to thecompany’s base of consumers. 4. Performance management systema. Acceptable level: The acceptable level of planned objectives of business planinvolved achievement of 95% targets in the given time period. The financialperformance of organization need to be encouraged up to 22% and the rate of retentionhas to be equivalent to 87%. In addition to this, possibility of quick expansion intoregions likes Wollongong, Newcastle and Central West of NSW. The acceptableplanned variance of this performance measurement system involves compliance withthe market opportunities and proper utilization of resources. Moreover, the organizationwill pick-up and deliver small to bigger sized packages/parcels that has till maximum120 kgs weight. b. Timeframe for each report: The timeframe for developing and analyzing report will be1 month. In this period of time the research and management team will focus in thepossibilities of actions and alternative plans to improve the market position of FastTrade Couriers. In order to attract new consumers, the company will carry out marketresearch for conducting market research in order to reveal market research along with

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