Report: Strategic Performance Appraisal of Maynard, Moon, and Bates

This report provides an in-depth analysis of strategic performance appraisal, focusing on the perspectives of Maynard, Moon, and Bates. It begins with an introduction to performance appraisal as a systematic process for evaluating employee performance and productivity. The main body of the report examines the views of Moon and Bates, who emphasize the CORE approach, highlighting the importance of context, overview, ratio analysis, and evaluation in assessing company performance. The report then contrasts these views with Maynard's perspective, which advocates for incorporating both financial and non-financial factors, such as employee turnover and customer satisfaction, in the evaluation process, along with the use of Key Performance Indicators (KPIs). The report concludes by synthesizing these viewpoints, suggesting that while Moon and Bates' approach provides a solid foundation, Maynard's inclusion of non-financial factors and KPI's offers a more comprehensive and modern approach to performance appraisal. The report underscores the critical role of performance appraisal in organizational growth and development. References are included to support the analysis.

QUESTION 4

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Performance appraisal is the systematic and periodical procedure that acess the
performance and productivity of employees at job. In general terms, it is a systematic evaluation
of the performance of employees to understand their abilities for future growth and development.
In this report, we will evaluate the views regarding strategic performance appraisal of Maynard
and Moon and Bates.
MAIN BODY
In evaluating the performance appraisals of employees at workplace, Moon and Bates in
1993 and Maynard in 2013 have written their views on CORE approach for analysing and
interpreting financial statements of companies (Grant, 2016).
As per the views of Moon and Bates, there are five key elements in evaluating the
performance of employees of company which is context, overview and ratio and evaluate. They
said that it is very important to understand the context in which company operates. It also
includes internal and external factors both and it also analyses the impact on the financial
position and its performance of company. Further, it also provides an overview of financial
position and performance of company because diving into any detailed analysis of financial
position and performance consumes too much time. They also focus on trend analysis which
evaluate the gap in between past and present period of performance along with challengers and
industry comparison. This type of comparison is also called as horizontal analysis.
Afterwards, they give focus on deep analysis of company's financial ratio. Financial
ratios can be determined by reviewing the context and overview which was understood in
previous step (Barrick,Thurgood , and Courtright, 2015). They also said that it is unnecessary to
calculate the entire ratios of company. The performance and position of company can only be
seen by context and overview. Calculating of all, ratios consume much time of an auditor or
analyst. Moreover, ast step which is given by Moon and Bates is to evaluate the position and
performance of company. It can be evaluated by outcomes of ratios with the context and
overview. It is very important to reach at the end results of any analysis. They give end
conclusion by evaluating all the results of step and find actual position and performance of the
company.
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According to the views of Maynard for evaluating performance of the company, taking
financial factors or components is not only enough. He said that in order to evaluate the actual
position and performance of company, analyst should take non-financial factors as well such as
employee’s turnover, changes in management, economic development of company and many
other factors too. In order to get the right, actual and true position as well as performance of
company, analyst must take non-financial factors in their process of analysis. He stated that
financial factors are not only the key indicators of evaluating performance and position but non-
financial factors are also the key indicators in evaluating performance and position of the
company. Changes in management, employee’s retention and economic developments are such
examples of true indicators. Customer’s satisfaction, creation and innovation as well as market
share are also the examples of indicators of evaluating performance and position of company
(Phillips and Gully, 2015).
Furthermore,he also included several key performance indicators which are to be
enclosed in annual reports that can be incorporated into the process of analysis. Key performance
indicators is a value which measures the effectiveness of company in obtaining and gaining
objectives and goals of the organisation. In order to reach the targeted objectives and goals of a
company, he gave more emphasis on them to use multiple techniques of key performance
indicators to evaluate right position of organisation. There are two levels in Key performance
indicators which are high level and low level KPI. Maynard advises to the analysts that if they
want to identify the entire performance of an organization then they have to go with high level
KPI and if they want to focus on performance in departments them they should use low level
KPI.
Moreover, views given by Moon and Bates as well as Maynard are similar to some extent
but the views in evaluatingperformance and position of the company of Maynard are likely to be
more advanced and beneficial as he is taking financial and non-financial factors both. By taking
both the factors, actual position and performance of company will be determined. Views of
Moon and Bated are also very effective but in the era of modernisation, non-financial factors
take place in the process of analysis (Lee, 2015).
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CONCLUSION
From the above report, it can be concluded that performance appraisal plays a vital role in
growth and development of company. Views of both the witters are concluded the above report.
Further, it is also understood in this study that Key performance indicators is a value which
measures the effectiveness of company in obtaining and gaining the objectives and goals of the
company.
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REFERENCES
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Barrick, M.R., Thurgood, G.R., Smith, T.A. and Courtright, S.H., 2015. Collective
organizational engagement: Linking motivational antecedents, strategic implementation,
and firm performance. Academy of Management journal, 58(1), pp.111-135.
Hollenbeck, J.R. and Jamieson, B.B., 2015. Human capital, social capital, and social network
analysis: Implications for strategic human resource management. The Academy of
Management Perspectives, 29(3), pp.370-385.
Lee, J.J., 2015. Drivers of work engagement: An examination of core self-evaluations and
psychological climate among hotel employees. International Journal of Hospitality
Management, 44, pp.84-98.
Phillips, J.M. and Gully, S.M., 2015. Strategic staffing. Hoboken, NJ: Pearson.
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