A-AS Level (CIE) Business Studies Paper-2: Specimen Questions with Answers 39 - 40 of 52

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Case Study-6

Farmington, Connecticut-based Otis Elevator is the world՚s largest manufacturer, installer, and servicer of elevators, escalators, moving walkways, and other vertical and horizontal passenger transportation systems. Otis products are offered in more than 200 countries worldwide, and the company employs more than 63,000 people. Among its many installations are the Eiffel Tower, Sydney Opera House, Vatican, CN Tower (Toronto) , and Hong Kong Convention Center. For years, the company had an ineffective performance management system that was excessively time consuming and inspired little confidence among employees or managers. In revamping its performance management, Otis moved toward a system that provided performance feedback based on critical strategic competencies related to the company՚s new focus on project teams. For this realignment into project teams to be successful, managers were required to demonstrate specific competencies in both team leadership and project management, as well as remain ac countable for the financial and operating results of projects.

Realizing that critical feedback in these areas could not come exclusively from immediate supervisors, Otis had a custom-designed 360-degree feedback system developed that provided managers with feedback from those most directly affected by their performance, their subordinates. encryption technology to secure all data, and allows a performance review to be completed in 20 minutes. The system allows Otis to provide performance feedback in tandem with the organization՚s strategic objectives; is far more efficient than the previous paper driven system; and perhaps, faith in the company՚s performance feedback system.

most importantly, has restored employee performance management.

Question 39 (1 of 4 Based on Passage)

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Describe in Detail

Essay▾

Why has performance appraisal taken on increased significance in the recent years?

Explanation

Data relating to performance assessment of employees are recorded, archived, and used for several purposes. The main purposes of employee assessment are:

  • To effect promotions based on competence and performance.
  • To confirm the services of probationary employees upon their completing the probationary period satisfactorily.
  • To assess the training and development needs of employees
  • To decide upon a pay raise (whereas in the unorganized sector) regular pay scales have not been fixed.
  • To let the employees, know where they stand insofar as their performance is concerned and to assist them with constructive criticism and guidance for the purpose of their development.
  • To improve communication. Performance appraisal gives a formal dialogue between the superior and the subordinate of an organization, and improves understanding of personal goals and concerns.

Question 40 (2 of 4 Based on Passage)

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Describe in Detail

Essay▾

What critical inputs need to be considered while evaluating by customers, peers, and bosses?

Explanation

Behaviors exhibited This is based on the belief that performance is driven by behaviors of employees, and such actions need to be measured. Therefore, the first step in developing a behavior no. appraisal process is identifying the actions to be measured, selecting different behavior for jobs, based on those characteristics considered to be important for the job. This assessment may be applied to supervisors and below. (Knowledge/skills possessed This assessment is appropriate for production workers, clerically, and some professionals) . It assumes that certain competencies drive performance and such skills/knowledge should be measured. The assessor should identify the knowledge ski to be measured and select different knowledge/skills for different jobs from a pool, based on the considered to be important for the job. Result-based assessment Administrators, managers, most professionals, and executives are the targets for this assessment What matters in any organization is performance which is equated with results. Results can be qualified for assessment as for example, scale volumes, units produced and meeting quality standards. Non-quantifiable indicators such as product knowledge, customer relations communication and the like may also be considered. It becomes objective when results are quantified and measured. Where not quantified, measurement becomes subjective. Measures become quantified when standards are set for them and actual are compared Table 9.6 contains comparative picture of the four angles to measurement (Also recollect the seven criteria for appraisal stated earlier)

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