Performance Management (MBA)

Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.

Performance is completion of a task with application of knowledge, skills and abilities. In work place, performance or job performance means good ranking with the hypothesized conception of requirements of a task role, whereas citizenship performance means a set of individual activity/contribution (prosocial organizational behavior) that supports the organizational culture. In the performing arts, a performance generally comprises an event in which a performer or group of performers present one or more works of art to an audience. Usually the performers participate in rehearsals beforehand. An effective performance is determined by competency of the performer - level of skill and knowledge. Spencer and McClelland in 1994 defined competency as "a combination of motives, traits, self-concepts, attitudes, cognitive behavior skills (content knowledge)" that helps a performer to differentiate themselves superior from average performers. A performance may also describe the way in which an actor performs. In a solo capacity, it may also refer to a mime artist, comedian, conjurer, or other entertainer.