Performance Management System with Respect to Retail Industry
14 Pages Posted: 15 Mar 2014
Date Written: March 13, 2014
Human Resource Management is one of the vital and versatile functions in the management because it deals with human resource. Performance management (PM) is the process of managing the execution of an organization’s strategy. It is how plans are translated into results. Think of PM as an umbrella concept that integrates familiar business improvement methodologies with technology. Retail Industry is one of the fast growing industry after globalization and providing plenty of opportunities for both fresh and experience candidates. Simply put, a performance management system is the process of using information to achieve superior corporate performance. For retailers it means having the information to monitor corporate and store performance, quickly take action, and improve operational efficiency. This paper mainly deals with performance management system with respect to retail industry.
Keywords: Human Resource Management, Performance Management, Retail Industry
JEL Classification: M50,M51
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