Performance Management Is an Ongoing Process Including the Interrelated Components

question 26

Essay

Performance management is an ongoing process including the interrelated components of prerequisites,performance planning,performance execution,performance assessment,performance review,and performance renewal and recontracting.Please explain how the poor implementation of a phase in the process or how a disrupted link between any of the phases will have a negative impact on the performance management process as a whole.

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Definitions:

Correcting Entry

An entry made in accounting records to correct a mistake made in a previous recording.

Subsidiary Ledger

A detailed ledger that contains the individual accounts related to a specific area, like accounts receivable or payable, which rolls up into the general ledger.

Compound Journal Entry

An accounting entry that involves more than two accounts, where there are multiple debits, multiple credits, or both.

Salvage Value

The appraisal of an asset’s market price at the exhaustion of its operational time.