Final P5 - Performance Evaluation.docx

Final P5 - Performance Evaluation.docx - A Value-based...

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A. Value-based decision making would be the strategy that I used. When value-based decision making is operating properly, an organization's management processes provide decision makers at all levels with the right information and incentives to make value-making decisions. The value-based decision making process would provide managers with the information to quantify and compare the value of alternative strategies and the incentive to choose the right strategy that would increase performance and profits. Managers would create incentives by specific financial targets set by senior management, by evaluation and compensation systems that reinforce value making, and by the strategy review process between manager and superiors. In addition, the manager's own evaluation would be based on long- and short-term targets that measure progress toward the overall value making objective. If the managers and feel responsible for the incentives they will promote them to employees and this will create a corporate change for long-run incentives and accomplishments.
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