Why would training in conducting performance evaluations be an important issue for organizations to consider?
Why would training in conducting performance evaluations be an important issue for organizations to consider?
DQ1
In this discussion, you need to research various international strategies. Take one that you find interesting and investigate it more in depth. Tell why the approach you selected is a good approach for your company or some other company that you are interested in to increase international business.
DQ2
Please select ONE of the questions below to answer:
- What is “360-degree feedback”? What advantages might it have over more traditional performance appraisal systems that use only downward feedback? What are some of the problems that could occur in using a 360-degree feedback system?
- Why would training in conducting performance evaluations be an important issue for organizations to consider?
- Review three the evaluation approaches discussed in this chapter by applying W. Edwards Deming’s criticisms. How does each approach fare?
- How often should formal performance evaluations take place? Informal ones? How often do they take place?
In your answers please draw from your own professional experience and provide examples from your own life, either as a leader, helper, employee, or observer. Review the reading, draw from your own ideas, examples or experience– and conduct some additional research as needed.
R1
Hello class, this week was quite unique as my company has already broken through the international market, but we’re just at the beginning stages. Some international strategies include, international, global, multi-domestic, & transnational. Just a quick background from my previous role as Business Development. I typically did not get involved in the international sales meetings but I used to be the first point of contact for all customers, regardless of location. Therefore I had to try and understand how their region, politics, and typical formalities would effect the outcome of the call. My entire goal at that time was to sell them on our value proposition and get them on a call with the correct Account Manager for that region, as they’re already up to speed on how that market and industry operates.
As I’ve discussed previously, Micatu makes medium voltage optical sensors for utilities distribution systems. From a high level point of view, the power gird is quite similar around the world. Some are more advanced than others, but in the end of the day, power is generated, transmitted, and distributed to the end-user. Locations definitely effect how their distribution systems are laid out and whether or not they’ve advanced the equipment in their grid far enough to see the value that optical sensing could add to their operational systems.
Since we’re still on the smaller side of things, it’s a bit difficult to relate to which strategy is really being deployed, but I believe Micatu uses a multi-domestic strategy. According to Kelly (2020), “The multi-domestic company tailors and customizes their product and services to whatever degree is needed to appeal to local market needs” (para 5). I truly don’t believe that we’re sacrificing efficiency to favor the international requirements. However, our solution tailors differently based on each customers request. Some require 61850 compliance, some need a radio or cellular communications device in order to retrieve the data, and some don’t have an operational system and must plug directly into our processing unit to have access to the data. The solution was built in order to accompany different requirements and essentially play nicely with however the utility is currently operating. This gives us an advantage from a multi-domestic strategy because we’re able to tailor to whatever configuration the customer requires. According to Lucas (2022), “some advantages of this strategy are:
- Highly localized products and services help ensure local product-market fit and give you a local competitive advantage.
- Operating in different countries gives you better access to local market advantages such as labor, shipping lanes, and natural resources.
- Local subsidiaries are easier to scale up or down based on performance.
- Expanding through mergers and acquisition is easier than introducing an existing brand to a new market” (para 16).
Micatu definitely aligns with the “local product-market fit” and somewhat aligns with the other bullets. We do not have a local office in other regions, but we have local reps. Our HQ is located in NY but we’ve expanded to global territories, as the sensors can apply to every region of the world because electricity is everywhere. There are areas for improvement and deeper analysis moving forward, but as the company continues to get validation projects out to various locations around the globe, utilities talk & marketing will build out proper material for distribution to potential customers which makes it even easier to break into the international market.
Thank you all for your time & I hope I provided some good insight as to where my company fits in this particular area.
Take care,
Joshua Dyring
References
Kelly, N. (2020, July 14). The Ultimate Guide to International Strategy. Born to be Global. Retrieved January 22, 2023, from https://borntobeglobal.com/2020/07/14/international-strategy/
Lucas, N. (2022, September 9). Multidomestic strategy: Resonating with global customers. MotionPoint. Retrieved January 22, 2023, from https://www.motionpoint.com/blog/building-a-multidomestic-strategy-that-resonates-with-global-customers/#:~:text=Advantages%20of%20a%20multidomestic%20strategy,shipping%20lanes%2C%20and%20natural%20resources.
R2
The international strategy I’ll discuss this week is the international joint venture (IJV) which is a business partnership between two or more companies from different countries. The partners in an IJV typically combine their resources, including capital, technology, and expertise, to undertake a specific project or business venture. The goal of an IJV is often to gain access to new markets, technologies, or resources that would otherwise be difficult or expensive to acquire. The ownership and control of the joint venture is shared among the partners according to the terms of the joint venture agreement.
Sticking with my aviation industry theme, I’ll discuss how Boing and Embraer joined together for a short-lived IJV. Boeing and Embraer formed a joint venture called ‘Boeing Brasil – Commercial’ to develop the commercial aviation market in Brazil and other parts of Latin America. The partnership was focused on providing customers with a wide range of products and services, including aircraft sales, financing, maintenance, and pilot training. Under the joint venture, Boeing and Embraer were working together to market and sell Embraer’s commercial aircraft, such as the E-Jet family of regional jets, to airlines in Latin America and other regions. Boeing, with its extensive global reach and sales network, is providing sales, marketing and customer support for the Embraer jets.
Additionally, the joint venture is also working on developing new aircraft models and technologies that are tailored to the needs of the Latin American market. This includes the development of a new aircraft specifically designed to meet the needs of the Brazilian market, which would be manufactured by Embraer. The partnership would have allowed Embraer to leverage Boeing’s global sales and support network to expand its customer base which would have allowed Boeing to expand its presence in the fast-growing Latin American market. It also would have allowed both companies to share expertise and technology, which can help develop more competitive products and reduce costs. Ultimately, the joint venture between Boeing and Embraer, collapsed in 2020 during the covid epidemic for a number of reasons. In part the Brazilian government, which owns a golden share of Embraer, exercised its right to veto the deal citing national security concerns.
R3
HHow often should formal performance evaluations take place? Informal ones? How often do they take place?
Formal performance reviews should be done quarterly, or every four months. Informal performance reviews should be conducted at least monthly. However, most employers continue to give a minimum of one annual performance evaluation. In my job experience formal evaluations take place once a year, if the evaluation is good the employee will earn a small annual raise. Most of my friends and family told me they also typically receive one annual formal performance evaluation at work.
More companies are starting to give quarterly performance reviews because there is data to support that more frequent reviews yield better employee performance. For example, Patagonia modern performance evaluation includes continuous feedback and quarterly meetings between an employee and their manager (Noe, 2021). There were serval aspects of Patagonia’s performance evaluation system that are similar to how good teachers evaluate or monitor their students academic and/or behavior progress. Patagonia has managers an employee’s create specific quarterly and annual goals, these goals are updated and highlighted in conversations, then changed as needed with the understand of high expectations. This relationship of goal setting between a manager and employee is extremely similar to the goal setting relationship between a student and a parent. According to Warr (2018) people’s behavior is a significant aspect of goal setting because life factors such as economic means and physical well-being affect how employees perform at work. At Patagonia they use an application to track the communication and the formal and informal evaluations between the employee and the employer – this brings importance and proof of employee performance to an employee performance evaluation meeting. This reminded me of the popular app teachers use called Class Dojo, which is used to track a student behavior performance, while a program like iready tracks a student’s academic performance, both Class Dojo and iready can be views 24 hours a day by the parent, student, and teacher. I love the idea of the tools we use in school applying to our work life, so when I read about Patagonia performance review process I was impressed since I feel it is a good process because it is geared toward keeping your realistic goals in mind at all times. Therefore, a combination of traditional annual performance reviews, continuous feedback system, and annual and quarterly goals is the best way to create a good work environment for all employees.
References
Noe, R. Hollenbeck, J. Gerhart, B. Wright, P. (2021). Human Resource Management: Gaining
a competitive advantage, 12th edition. McGraw Hill Education.
Warr, P., & Nielsen, K. (2018). Wellbeing and work performance. In E. Diener, S. Oishi, & L. Tay (Eds.), Handbook of well-being. Salt Lake City, UT: DEF Publishers. DOI:nobascholar.com
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