Performance Management
Introduction:
This is a case study of Square Pharmaceuticals Limited, Bangladesh. In the report I have analyzed the organization from the perspective of its ‘Performance Management System’ and how the organization uses its ‘Teams and Groups’ effectively.
In my analysis I have used 2 different frameworks to analyze the two themes in question. One of them is the ‘Performance Management Systems Framework’ (Appendix 1, Fig 1) developed by David Otley & Aldonio Ferreira in 2009. The other is the Work group effectiveness framework by Campion et al. in 1993 (Appendix 1, Fig 2).
The data used to evaluate the organization is mostly primary data those I have observed during my work in the organization.
Company overview:
SQUARE Pharmaceuticals Limited is the biggest pharmaceutical company in Bangladesh. It has been in the 1st position in terms of market share and growth among all companies since 1985 (Square Pharmaceuticals Ltd. 2010). It was formed in 1958 and in 1991 it was enlisted as a public limited company in Bangladesh Stock Exchange. The sales turnover was US$ 107.91 million from April 2006 to March 2007 that represented a 16.92% market share and a growth rate of about 23.17% (Square Pharmaceuticals Ltd. 2010).
Square pharma is one of the top pharmaceutical product exporters of Bangladesh. It has 3564 employees, 3 subsidiary and 4 associate companies in Bangladesh (Square Pharmaceuticals Ltd. 2010).
Performance Management of Staff and Personnel:
Performance management is directed towards improving the organizational, functional and the individual performance by linking it to the specific objective of each functional area that aims towards achieving the overall organizational objectives (Stone 2005, p 276).Performance management is a broader concept than the traditional concept of Performance appraisal that measures how well a job is being performed by an employee that is assigned to him against a set of criteria like achievements or productivity (Stone
This is a case study of Square Pharmaceuticals Limited, Bangladesh. In the report I have analyzed the organization from the perspective of its ‘Performance Management System’ and how the organization uses its ‘Teams and Groups’ effectively.
In my analysis I have used 2 different frameworks to analyze the two themes in question. One of them is the ‘Performance Management Systems Framework’ (Appendix 1, Fig 1) developed by David Otley & Aldonio Ferreira in 2009. The other is the Work group effectiveness framework by Campion et al. in 1993 (Appendix 1, Fig 2).
The data used to evaluate the organization is mostly primary data those I have observed during my work in the organization.
Company overview:
SQUARE Pharmaceuticals Limited is the biggest pharmaceutical company in Bangladesh. It has been in the 1st position in terms of market share and growth among all companies since 1985 (Square Pharmaceuticals Ltd. 2010). It was formed in 1958 and in 1991 it was enlisted as a public limited company in Bangladesh Stock Exchange. The sales turnover was US$ 107.91 million from April 2006 to March 2007 that represented a 16.92% market share and a growth rate of about 23.17% (Square Pharmaceuticals Ltd. 2010).
Square pharma is one of the top pharmaceutical product exporters of Bangladesh. It has 3564 employees, 3 subsidiary and 4 associate companies in Bangladesh (Square Pharmaceuticals Ltd. 2010).
Performance Management of Staff and Personnel:
Performance management is directed towards improving the organizational, functional and the individual performance by linking it to the specific objective of each functional area that aims towards achieving the overall organizational objectives (Stone 2005, p 276).Performance management is a broader concept than the traditional concept of Performance appraisal that measures how well a job is being performed by an employee that is assigned to him against a set of criteria like achievements or productivity (Stone
References: Square Pharmaceuticals Ltd. 2010, accessed 22/02/2010, http://www.squarepharma.com.bd/ Stone, R 2005, Human Resource Management, ed Fig. 2. Characteristics related to Work group effectiveness (Campion et al 1993).