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Sample Assignment 2 7002

Sample Assignment 2 7002

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Published by: Javeriah Arif on Jun 20, 2011
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06/20/2011

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Name

ABCD

CMI ID

123456

Unit Lecturer

XYZ

Unite Code

7002

Unit Name

Strategic Performance Management

Word Count

3531

Plagiarism Statement:
I declare that, apart from properly referenced quotations, this assignment/report is my own work and contains no plagiarism; it has not been submitted previously for any other assessed unit on this or other courses.

The aim of this assignment is to explain the importance of strategic performance management’s various attributes. The organization which I have selected for this assignment is Waitrose. A combination of outstanding service delivery and competitive pricing for consumers.3% share of the market. . Waitrose has been driving through an ambitious change programme designed to further strengthen the business and create a solid platform for sustainable growth. investment in existing and new shops and formats and improving the efficiency of the business. Waitrose. framework and its effects. The company attempts to differentiate itself from its competitors by offering high quality food and customer service. The company has a long term goal of opening 400 branches across the UK by 2017 and doubling its revenue to £8bn by 2016. operates more than 220 branches dedicated to offering high quality fresh food. It formerly held a Royal Warrant for Her Majesty Queen Elizabeth. gathering information to measure performance and making changes to correct issues or improve the company’s performance. and employees. managers. This process often involves taking a detailed look at the company and setting specific goals or objectives for divisions. As a result. departments. As of June 2010. fuel this ambition. The company has a Royal Warrant to supply groceries. wine and spirits to Queen Elizabeth II. which will help us understand the importance of strategic performance management in an organization. Waitrose is an upmarket chain of supermarkets in the United Kingdom and is the food division of the British retailer and worker co-operative the John Lewis Partnership. The Queen Mother. Waitrose had 228 branches across the United Kingdom and a 4.Introduction: Strategic performance management is a business function where business owners and managers develop activities or tasks to gauge the overall effectiveness and efficiency of their company. making it the 6th largest grocery retailer in the UK. it has the reputation of being more expensive and is popular with the middle classes. Owners and managers will set goals or objectives for business processes. the supermarket division of The John Lewis Partnership. value and customer service.

In addition Waitrose could sell it products in areas where has no stores. The service is designed to target affluent. Serve Over Counters. in a time where finding good stores locations become increasingly difficult. possibly not living close to a Waitrose Supermarket. Refrigeration plant Shelving. The long-term plan is to build five depots round the country to serve the whole of the UK. busy people who have no time to shop. The leaders at Waitrose are aware about their strategic goals and putting lot of efforts to achieve them. Currently Ocado is serving the whole of the M25 area. Waitrose has a net income of £123. Waitrose re-engaged Procure4 to concentrate on the cost effective delivery of capital items for it’s new shop design and fit out projects. It also wants to make it a better place for its employees to work and achieve employee satisfaction which is also one of the strategic goals. Every Organization has its strategic objective and so does Waitrose. but still prefer .3 million and 42900 employees. categories in focus have included: Refrigerated Cabinets. Just like Waitrose stores. Strategic goal of Waitrose is to expand their sale of organic produce ten times over the next five years and also to become strong in non food supplies as one of the long term goals. Externally focused strategic objectives of Waitrose: Through the joint venture with Ocado.Following an earlier collaboration with Procure4 resulting in a 20% cost saving on consumables distribution across Waitrose and John Lewis department stores. Three store development exercises down the line. Setting Performance targets at Waitrose: 1. To understand the link between Team performance and strategic objectives in a practical way. Waitrose hopes to be present in a huge e-grocery market should the forecasts be correct.1 Connection between Team Performance and strategic objectives : Performance is essential to achieve any objective. Waitrose is looking to make the shopping trip as easy as possible for its customers and constantly seeking to reduce prices to help them spend less. it’s Important that we understand the strategic goals first. 1. their online offer uses a differentiation strategy targeting the supermarket. Lifts & Signage.

2 Tools and Technique's to set performance targets at Waitrose: Tools and Techniques As we all aware of how important it is to perform to achieve the targets. This helps the individual and teams of knowing their objectives. The leaders do use tools and techniques to set up Team performance targets in Waitrose which helps in promoting alignment. this performance is also monitored . The HR team also helps all departments in supplying best tools. Mckinsey 7 s model is the tool which is used by the leaders of Waitrose. To help the teams in Waitrose and make the task easier for them the leaders set performance targets. Waitrose’s online venture does try to attract the same kind of customers that also visit the store.Waitrose over other supermarkets. To increase the sales at Waitrose and gain customer loyalty. allows a strong brand leverage of the existing Waitrose brand. The basic . The leaders in Waitrose focus a lot on performance as it helps them in achieving its objective. 2% substitution rates). Being located in the south. where Waitrose has its strongest presence. the marketing team. what they need to achieve and what is expected from them by their managers and the strategic leaders in Waitrose.This performance of various departments and there action is aligned and similar to the strategic objective of Waitrose which is to increase its sales. However. “in order to save the environment. talented and dedicated people to work and contribute to the organizations success. it is indicated when a delivery van is close to a customer’s area it is encourage to book a delivery at that time. Information Management Team and the Sales Improvement Team work together to increase the sales. 1. Added to Waitrose’s high quality products. loyal to Waitrose’s green image. but also tries to snap up customers that are not satisfied with the service offered by ‘big four’ online service. their online business can differentiate itself from online competitors with the service that their centralized business model enables them to offer (one-hour-slots. In this way the team performance of every department is constantly heading towards achieving the goal which is aligned with the strategic goal and that's one of the ways the team performance is linked with the strategic objective of Waitrose. smart.

1. Style and Staff can be more difficult to describe and are less tangible and more influenced by culture. how should Waitrose deal with competitive pressure. Mckinsey 7s model helps the leaders understand what is Waitrose’s strategy.3 Importance of Team performance tools in Waitrose .premise of the model is that there are seven internal aspects of an organization that needs to aligned if it is to be successful. but they are as important as "Hard" elements. the seven aspects are categorized as either “hard" or "soft" elements. how the changes in customer demands should be dealt with and how is Waitrose’s strategy adjusted for environmental issue. how do Waitrose intend to achieve its objective. Mckinsey 7 s model helps the leaders a great deal in setting up team performance targets in Waitrose. Once these objectives are clearly defined then the leaders set Team performance targets according to these objectives which make it easy for Waitrose to achieve its strategic goals and its objectives.” Soft" elements such as Shared Values. Structure and System which are easier to identify and management can directly influence them. Skills. Mckinsey 7s model also helps the Waitrose leaders in evaluating team performance and analyze its sales which also helps in setting up Team performance targets.” Hard" elements such as Strategy.

Mckinsey 7s model as help in defining the score card for its employees at Waitrose. Waitrose wants to increase its sales and gain customer loyalty and make Waitrose a better place for its employees to work. It helps in tracking the . Team development is important at Waitrose for: • • • • • • • • • • Assessing of team skills. It also helps Waitrose in Reviewing capacity and capability of current workforce. customer satisfaction and employee satisfaction at work place.g. Define what’s going to be measured The Mckinsey 7s model helps the leaders in defining the strategic objectives clearly in Waitrose. systems and processes Alignment and development of systemic team improvements Team leader leadership coaching and mentoring Team accountability coaching and mentoring Facilitating teams through stages of development Team incorporation of organizational change or changing market conditions Work with individuals to be contributing members of the team Incentives that reward the right behaviours.The employees at Waitrose are highly motivated and well aware of their goals and objective which adds to their Qualities and helps them in attaining customers with great customer service skills and ability leading to customer loyalty.It leads Waitrose in achieving its strategic goals. outcomes and results Building trust and clear communication Clear communication and aligned behaviours Examine capacity and capability of workforce Waitrose has a current workforce of 1. It helps in measuring the Sales as per the requirement. The tool also helps Waitrose in identifying individual team member’s accomplishments which supports the team. The causes of any variations are pin pointed and rooted out in the quality assurance process. A record of all the findings is kept which is used for future performance reconciliations. This team performance tool helps Waitrose leaders in measuring its team performance and set future team performance targets to achieve its goals.980. The tool helps out in defining the objectives clearly. Once the strategic objectives are defined the leaders are aware of that they needs to achieve e.The team performance tool used by Waitrose is Mckinsey 7s model.

Agreeing Team performance targets to meet strategic objectives of Waitrose.performance and develops team and individual performance standards and measures and Reward and Recognize the Best performers. 2.1 Measuring required performance targets against current performance: In Waitrose the leaders do study the Team performance every month. 2. The . This is why the team performance tool which is Mckinsey7s model has a great value in Waitrose.

Minimum Range: Minimum Range is a range which is below par and needs a lot of attention and guidance to improve.2 Individual commitment to boost team performance: Employees' commitment to their work teams and to the organization can influence turnover. willingness to help co-workers and team performance. achievable. Stretch Range means it will lead the organization in to huge profit if it is continued. The targets are set up in three different ranges for both sales targets and customer satisfaction targets. The three different ranges are Minimum range. This helps the leaders in setting up required performance targets within teams for future or the coming month in Waitrose. measurable. As Waitrose is looking to maintain its position it needs to compete and put up an excellent performance so it wants its employee to performed more than the moderate Range. Waitrose has few tools to deal in such circumstances like performance development plan. 2. In Waitrose there are very few exceptional cases where the performance goes to a minimum range or below minimum range.leaders in Waitrose want its employees to show specific. moderate Range and Stretch Range. agreed. Moderate Range performance means the organization will make no losses but any profit as well. Stretch Range: Stretch Range is where Waitrose wants all its employees and Teams to be. Minimum range performance means it would lead the organization into losses if it continues. Moderate Range: Moderate is the Average performance which only leads to sustain position. . It give them the grade of exceeds in their performance. These ranges help Waitrose in determining required performance targets within teams against current performance. As most of the employees and leader are highly motivated in Waitrose it leads their performance to the stretch range. realistic and time-bound performance.

Individual commitment to team performance in Waitrose also acts as a motivating factor for other individual as well.3 Delegation. turnover and employees willingness to help co-workers. It helps Waitrose in grooming employees and a group of well groomed and experienced individual makes it easier for Waitrose to achieve its Organizational objective.Building individual commitment to the workplace is one important goal of human resource policies and practices. It also keeps the environment and atmosphere highly motivated and electrifying in Waitrose. that’s why leaders at Waitrose feel the need to encourage individual commitment to team performance which helps in achieving organizational objectives. Waitrose has utilized a performance development system designed specifically for their employees. it also hand over’s the necessary right to carry out a task which motivates the individual. When delegating a task in Waitrose. mentoring and coaching for achievement of the organizational objective in Waitrose Purpose of delegation. It creates competition between individuals and teams which leads to better results. Waitrose wants to improve its sales so it want its employees to be committed towards it and contribute to team performance and success so that it can achieve its organizational goals by making more sales. The leaders at Waitrose use Delegation to build in confidence in the employees or subordinates. The individual learns to act with confidence and a sense of responsibility. mentoring and coaching : Delegation is an important part of Management. . and the organization is simply there to provide guidance and support to this person. Team Performance in Waitrose is very important to achieve organizational objectives. 2. These factors also help Waitrose in creating employee satisfaction and make it a better place for its employees to work which results in achieving Waitrose’s objective. In their effort to help an employee to perform well in various situations. It is essentially a self-directed endeavor. Research shows commitment has a positive effect on productivity. Developing core competencies is inherently dependent on the individual’s commitment to improve his performance.

reduces turnover by motivating the staff and increases your investment in "human capital. Monitoring actions and activities to improve team performance: 3. the leaders at Waitrose check if the plans helps them in improving the strategic problem solving and decision making in Waitrose. fundamentally. Once the leaders at Waitrose set up team Performance plan to meet organizational objective they do Evaluate the plan to check if it’s impact . learning and development activities that share similar roots despite lively debate among academics and practitioners as to the meaning (and implications) of each word. Numerous studies have shown that the greatest factor to organizational growth occurs not at the structural level but at the personal level. They are. Improved Knowledge and information sharing Waitrose recognizes that knowledge constitutes a valuable intangible asset for creating and sustaining competitive advantages.2. Knowledge sharing activities at Waitrose are generally supported by knowledge management systems. Both coaching and mentoring are an approach to management and a set of skills to nurture staff and deliver results." When the employees are empowered. The leaders at Waitrose also find out of the Team performance plan is worthy of meeting organizational objectives.1 monitoring team performance and initiating changes at Waitrose . producing a "trickle-up" effect that creates a true performance-enhancing culture and enables tangible transformational change within Waitrose. integrating proper coaching techniques into the organization's framework maximizes the payback from outside training.4 Evaluating a Team performance plan to meet organizational objectives in Waitrose Waitrose has its organizational objectives and also has a team performance plan to help achieve its objectives. they work smarter.affect and if it’s correct. they also look if the plan helps in Improving cross –boundary collaboration and knowledge and information sharing within the teams and employees. At Waitrose. 3. The leaders at Waitrose have few criteria’s to evaluate the team performance plan.

Give praise where it is due. whinge or nag. it is difficult to determine whether a team is headed in the right direction. Be sincere. The leadership of Waitrose ensures that the team finishes projects in a timely manner. effective feedback is given and the following rules are followed: • • • • • • • • Be direct. Methods of effective feedback At Waitrose. make it clear that you need to see improvements or changes. In most cases. criticism. Rewards are given to well-performing individuals. the team members undergo a number of development phases to work together effectively. At Waitrose. Deliver bad news in a non-critical way.2 Weighing up Team performance against agreed objective in Waitrose: . At Waitrose effective team management motivates workers to take responsibility for their job performance and produce superior outputs. a consistent demand for a quality performance yields the best results. When it’s not. Avoid being side tracked by any of the feedback blockers. don’t sugar coat the message. Preserve the other person’s self esteem. 3.Monitoring team performance Team performance management is important to the success of a company. while motivation is given to those who have become too lax in their performance. Concentrate on your pitch and tone so that valuable information is not seen as a complaint. however this is done with encouragement. Without it.

4. It is believed that all employees are important to the success of the business.Every Year when the strategic leaders of Waitrose meet to discuss future goals they decided on the organization’s objective which is called agreed objective. interests and organizational . Good work performance and good attitude is always acknowledged no matter what level of job one performs at Waitrose. Application of influencing and persuading skills for personal Interactions in Waitrose. which motivates employees to further improve their performance.2 Impact of individual dynamics.1 Methods influencing and persuading to gain the commitment employees: Involving employees in Decision Making: In Waitrose Employee involvement means creating an environment in which people have an impact on decisions and actions that affect their jobs. rewards are given to all employees. The leaders and managers at Waitrose also monitor and evaluate team performance as it helps in examining and determining the team performance to make sure that it is heading in the right direction and towards the objective. their performance should be rewarded quickly. Waitrose has a agreed objective of increasing its sales and also make it a better place for its employees to work. The leaders and managers at Waitrose do motivate its employees and teams to perform better to achieve the objective and increase efficacy and effectiveness in their work as they are very keen to getting everything right to achieve their goals and objectives. employee involvement is a management and leadership philosophy about how people are most enabled to contribute to continuous improvement and the ongoing success of their work organization.” Monetary and non-monetary rewards are given to employees. 4. Leaders at Waitrose believe that “When you have strong performing employees. 4. To achieve any objective it’s important to work towards it and perform better to outshine the competitors. In Waitrose. Rewarding Employees: At Waitrose. even the less visible employees.

and/or develop new skills or areas of expertise. Performance Management has also helped Waitrose in achieving its Strategic objectives. performance management is about establishing a culture in which individuals and groups take responsibility for the continuous improvement of business processes and of their own skills. Managers clarify what they expect individual and teams to do.defining expectations expressed as objectives and in business plans. reflecting the new role. Where it is agreed that the plan’s objectives have been achieved.between managers and individuals. likewise individuals and teams can communicate their expectations of how they should be managed and what they need to do their jobs. where necessary. evaluating and improving Waitrose's performance and day to day activities. between managers and teams. It is about sharing expectations. The Personal Development Plan helps the employee. I have also made an effort to highlight the different aspect of Performance Management and explain its framework and the positive difference which it has made to a huge organization like Waitrose. and is therefore a joint process. the personal development plan and progress is reviewed approximately every six months. I have also explained how Performance Management helps in monitoring. between members of teams and so on. PASS: . Conclusion At Waitrose. It is also about interrelationships and about improving the quality of relationships . It is also about planning . so that the employee can effectively fulfill an existing role but where the responsibilities increased to a level that merits regarding to a higher grade or an alternative role at a grade equivalent to the employee’s previous grade. In this assignment I have tried to explain the impact of Performance Management and how it has helped Waitrose in achieving its long term and short term goals. behavior and contributions.politics on securing the commitment of individual to a course of action in Waitrose Training and development of staff and leaders at Waitrose: In Waitrose the leaders also have introduce Personal Development plan for employees which encourages them to perform better for higher level promotions. to enhance existing skills or knowledge. a new job description is created and submitted for grading. At Waitrose.

2 & 4. . 3.1 needed more elaboration.This assignment fulfils all the assessment criteria set up by CMI though assessment criterion 2.3.

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