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Book review Introduction to business Foundations of Business

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Clear and concise business notes covering key topics like management, marketing, economics, and finance. Includes summaries, real-world examples, and exam tips—perfect for students looking to excel in business studies.

Institution
Senior / 12th Grade
Course
Introduction to business








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Written for

Institution
Senior / 12th grade
Course
Introduction to business
School year
4

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Uploaded on
January 19, 2025
Number of pages
2
Written in
2024/2025
Type
Book review

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Training and Development
●​ Training & development are usually differentiated as employee training or management
development
○​ Employee training: the process of teaching operations & technical employees how
to do their present jobs more effectively & efficiently.
○​ Management development: the process of preparing managers & other
professionals to assume increased responsibility in both present & future positions.
Analysis of Training Needs
●​ When thinking about developing a training program, managers first must determine if training
is actually needed &, if so, what types of training needs exist.
○​ Employees may find that sometimes employees need motivation more than they
need training.
Training and Development Methods
●​ On-the-job methods. - simulations
●​ Classroom teaching & leactures. - conferences & seminars
●​ Role-playing. - e-learning
Evaluating of Training and Development
●​ To ensure that training & development are as cost effective as possible, the managers
responsible should evaluate the company’s efforts periodically.
●​ Regulates of training evaluations should be made known to all those involved in the program
includeing trainees & upper management.
Performance Appraisal
➔​ The evaluation of employees current & potential levels of performance to allow managers to
make objective Human Resources decisions
The Process has 3 main objectives:
1.​ Managers use performance appraisals to let workers know how well they are doing & how
they can improve in the future.
2.​ A performance appraisal provides an effective basis for distributing rewards, such as pay
raises & promotions.
3.​ Performance appraisals helps the organisation monitor its employee selection, training, &
development activities.
Common Evaluation Techniques
Objective Methods:
●​ Objective appraisal methods sue some measurable quantity as the basis for assessing
performance
JudgeMental Methods:
●​ Judgemental appraisal methods require that the manager or judge or estimate the employee’s
performance level.
○​ These methods are based on employee ranking or rating scales.
■​ When ranking is used, the manager ranks subordinates from best to worst.
■​ A rating scale consists of a # of statements, on which e/ employee is rated
based on the degree to which the statement applies.
Performance Feedback
Three Major approaches to performance Feedback:
1.​ Tell and Sell : the superiors tell the employee how good or bad the employee’s performance
has been & attempts to persuade the employee to accept the evaluation.
2.​ Tell and Listen: the superiors tell the employee what the employee has done right & wrong
then gives him or her a chance to respond.
3.​ Problem Solving: Employees evaluate their performance & set their own goods for future
performance.
360 EVALUATION (common popular approach) : collects anonymous reviews abt an employee from
his or her peers, subordinates, & supervisors & complies them into a feedback report for employee.
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