Answer to Question #178773 in Economics for Nerisha

Question

Assignment brief

• Discuss the three factors that important in understanding an individual’s contribution towards the organisation’s performance.  

• Identify and discuss one of the various tools used for performance management. 

Answer 1

1) The key factors that influence employee performances are:

• Job Satisfaction.
• Training and Development.
• Employee Engagement.
• Goals and Expectations.
• Tools and Equipment.
• Morale and Company culture.

2) Management by objectives (MBO) is the process of defining specific objectives and then setting out how to achieve each individual objective. It’s particularly powerful for specific work that needs to be done one step at a time, and is a great way to create a culture of working towards common goals.