Tutorial 8 - Performance Evaluation.docx - 22421 Management Decisions and Control – Student guide Topic Key concepts Weekly objectives Performance

Tutorial 8 - Performance Evaluation.docx - 22421 Management...

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22421: Management Decisions and Control – Student guide Topic: Performance evaluation and feedback Key concepts Cybernetic loops and feedback Informal vs. formal feedback Dunning-Kruger effect Controllability principle Styles of performance evaluation Relative vs. absolute performance evaluation Weekly objectives: For students to: 1. Understand how MAS are used to inform performance evaluation in organisations 2. Evaluate the effectiveness of performance evaluation systems in organisations, both from a technical (how your system will actually work) and behavioural perspective (employee motivation and reward systems) 3. Make recommendations for how performance evaluation systems could be improved Instructions to students: Readings Case study: Royal Wessanen NV Chapter 12 (p540-544) of Langfield Textbook Book Chapter: Hopwood “The role of accounting data in the evaluation of performance” CIMA report “Applying the controllability principle and measuring divisional performance of UK companies” Recommended further reading Article: Kruger, J., & Dunning, D. (1999). Unskilled and unaware of it: how difficulties in recognizing one's own incompetence lead to inflated self-assessments. Journal of personality and social psychology, 77 (6), 1121. Article: Gary, L. (2001). The controversial practice of forced ranking. Harvard management update, 6 (10), 3. CIMA report: Formal and informal feedback in management accounting Theory recap questions 1. What is the Dunning-Kruger effect? How does doing peer-assessment affect people’s perception of their own ability? 2. Why is it often advisable for companies to distinguish the performance of managers from that of their division? Why might they choose not to do so? 3. What are some of the differences between a budget-constrained and a profit-conscious style of evaluation? What are some of the advantages of a profit conscious style?
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