IB Business Management Topic 2.4.4 Types of Appraisal Revision Notes (HL)

IB Business Management Topic 2.4.4 Types of Appraisal Revision Notes (HL) | RevisionDojo

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Appraisals Provide A Structured Way To Offer Feedback

Definition

Appraisals

Appraisals are formal evaluations of an employee's performance over a specific period.

They aim to:
1. Assess Performance: Identify strengths and areas for improvement.
2. Provide Feedback: Offer constructive insights to guide future actions.
3. Set Goals: Establish clear objectives for growth and development.
4. Inform Decisions: Support decisions on promotions, training, or compensation.

Why Are Appraisals Important?

Appraisals play a crucial role in performance management, providing a two-way discussion aimed at development and improvement.

Benefits for Employees

Encourages Growth: Provides structured feedback to support career development.
Increases Motivation: Recognizes achievements and boosts morale.
Clarifies Expectations: Ensures employees understand performance standards.

Benefits for Businesses:

Enhances Productivity: Identifies training needs and performance gaps.
Improves Retention: Employees who feel valued are more likely to stay.
Informs Workforce Planning: Supports promotion and succession planning.

Types of Appraisals

1. Formative Appraisals: Continuous Improvement

Formative appraisals focus on ongoing feedback to help employees improve continuously.
They emphasize learning and development rather than judgment.

Example

A sales manager meets with a team member monthly to review sales techniques, discuss challenges, and identify training opportunities.

Strengths

Encourages Growth: Employees receive regular guidance to enhance skills.
Builds Trust: Frequent feedback fosters open communication.

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Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit.

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

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Appraisals Provide A Structured Way To Offer Feedback

Definition

Appraisals

Appraisals are formal evaluations of an employee's performance over a specific period.

They aim to:
1. Assess Performance: Identify strengths and areas for improvement.
2. Provide Feedback: Offer constructive insights to guide future actions.
3. Set Goals: Establish clear objectives for growth and development.
4. Inform Decisions: Support decisions on promotions, training, or compensation.

Why Are Appraisals Important?

Appraisals play a crucial role in performance management, providing a two-way discussion aimed at development and improvement.

Benefits for Employees

Encourages Growth: Provides structured feedback to support career development.
Increases Motivation: Recognizes achievements and boosts morale.
Clarifies Expectations: Ensures employees understand performance standards.

Benefits for Businesses:

Enhances Productivity: Identifies training needs and performance gaps.
Improves Retention: Employees who feel valued are more likely to stay.
Informs Workforce Planning: Supports promotion and succession planning.

Types of Appraisals

1. Formative Appraisals: Continuous Improvement

Formative appraisals focus on ongoing feedback to help employees improve continuously.
They emphasize learning and development rather than judgment.

Example

A sales manager meets with a team member monthly to review sales techniques, discuss challenges, and identify training opportunities.

Strengths

Encourages Growth: Employees receive regular guidance to enhance skills.
Builds Trust: Frequent feedback fosters open communication.

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management 2.4.4 Types of Appraisal Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

Appraisals Provide A Structured Way To Offer Feedback

Why Are Appraisals Important?

Benefits for Employees

Benefits for Businesses:

Types of Appraisals

1. Formative Appraisals: Continuous Improvement

Strengths

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Appraisals Provide A Structured Way To Offer Feedback

Why Are Appraisals Important?

Benefits for Employees

Benefits for Businesses:

Types of Appraisals

1. Formative Appraisals: Continuous Improvement

Strengths

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account