StudentShare solutions
Triangle menu

Performance management is key to achieving sustained competitive advantage - Essay Example

Not dowloaded yet

Extract of sample
Performance management is key to achieving sustained competitive advantage

advantage (Amit & Schoemaker, 1993; Barney, 1991; Schoenecker & Cooper, 1998). Human capital is more mobile than other intangible resources (Teece, Pisano, & Shuen, 1997). Therefore, it may seem an unlikely source of sustained competitive advantage. Hence the organization must search for the means and ways to retain them to achieve completive advantage.
Competitive advantage is gained only when the organization selects or develops these resources and structures work tasks and the reward system in ways that motivate the team to perform well and thereby contribute to organizational effectiveness (Guzzo & Shea, 1992). Some organizations reward employees financially when they demonstrate an ability to acquire and master new knowledge (Jenkins & Gupta, 1985; Gerhart, 2000; Lawler, ch-10).Also some studies like, Jackson & Schuler, 2002 considers that organizational structures for rewards improve organizational performance and proves competitive advantage rather than team effectiveness and selection and training.
But according to Dobbins, Cardy, Facteau, & Miller, 1993 opinion, system factors are the only constraining influences that restrict individual ability and motivation, and result in lowered performance.
Performance management involves enabling people to perform their work to the best ...Show more

Summary

Performance measurement is the process of assessing progress toward achieving predetermined goals. Performance management is building on that process, adding the relevant communication and action on the progress achieved against these predetermined goals. Completive advantage is the value that a company retains with itself to give an outstanding performance in the industry…
Author : myundt
Performance management is key to achieving sustained competitive advantage essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Performance management is key to achieving sustained competitive advantage"
with a personal 20% discount.
Grab the best paper

Related Essays

Operations Management for Competitive Advantage
Amongst the numerous concepts and tools that can come under application for the problem related to the facility location and layout, centroid method came under consideration as the best applicable tool for the company Eldora (EDC) who were leading manufacturers of bicycle in the U.S.
11 pages (2750 words) Essay
Managing Value for Competitive Advantage Company Analysis
The business environment has undergone tremendous transformation over the last few years. There has been a fundamental shift from just concentrating on economic profitability to a business mode. The key to competitive advantage is through value creation and addition to the offerings to the stakeholders.
12 pages (3000 words) Essay
Globalization: Analysis of Competitive Advantage
In the present day and age, it is even more difficult to find sources of sustainable competitive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities.
22 pages (5500 words) Essay
How Good Recruitment Practises Help the Organisation In Achieving a Competitive Advantage
Accordidng to the paper Human Resource is a part of an organization that is highly involved in all the decisions made by all different departments of a company. A company's strong point is built upon the eminence of its employees. In isolation, HR is in performance and has become increasingly important in businesses today.
12 pages (3000 words) Essay
Competitive Advantage Bestowed by Innovation cannot be Sustained without Architecture
Competitive advantage is a way to give rise to an edge over the other in order to ensure remarkable market share, market power, profit and the bottom line is to be a cut above the other on other related corporate concerns (Bobillo et al., 2010). There are many strategic moves that are in proportion to gaining competitive advantage, one is innovation.
8 pages (2000 words) Essay
The role of information systems (IS) in achieving competitive advantage: a study case of Communication Sector in Saudi Arabia
vement of the firm’s position in the global market but also with the ability of the firm to survive under severe pressures – like in the case of current financial crisis. Information systems are commonly used as a tool for the achievement of the above targets (Yolles, 2009,
8 pages (2000 words) Essay
Globalization: Analysis of Competitive Advantage
tive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities. However, firms must still plan to try to improve while operating in a global mosaic that offers a plethora
22 pages (5500 words) Essay
Supplier evaluationfor achieving long-term performance
The amazing growth of contract manufacturing in electronics bears witness to this trend. If the majority of an organization’s costs lie
5 pages (1250 words) Essay
Strategy and Performance Management at DSM
The main KSF of DSM can be classified under three heads. The first head consists of the KSF for the local players. Ensuring loyalty of the consumers is vital for the local players. The second KSF is in terms of the captive players. This KSF is related to the competitiveness
4 pages (1000 words) Essay
Achieving a Global Competitive Advantage: The case of FEMSA
Some of the company’s famous products include the Harry Potter Film series, Tom and Jerry, Superman, Batman, The Matrix Series, Sherlock Holmes,
6 pages (1500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT