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Plan and Measure Perfomance

In: Business and Management

Submitted By Nelly78
Words 913
Pages 4
Planning and Measuring Performance
Nelly
MGT/521
January 22, 2013
Jason Miller

Planning and Measuring Performance
Wal-Mart is known to be one of America’s largest retail companies known for their low prices, large selection, and the largest based retail for employment. In addition, Wal-Mart is ranked Fortune 500’s top two, bringing in revenues of $446,950.0 million and profit of $15,699.0 million and continues to grow (CNN, 2012). Wal-Mart’s mission “help people save money so they can live better” and vision “Always low prices, always!” tells customers that they will always keep lower prices, maintaining loyalty to continue to be competitive in the market (Wal-Mart 2012). To continue their efforts in maintaining the lower prices, the company must accomplish two goals; customer satisfaction and keeping lower prices. To accomplish these goals, a detailed evaluation needs to be performed to identify the most useful tools to measure the company’s performance. Planning and measuring the performance of the company will guarantee that Wal-Mart will continue to be the largest, most profitable, and successful retail store in the industry.
To evaluate the company’s goals, managers will need to have a control process. This entails “the process of monitoring, comparing, and correcting performances” (Robinson & Coulter, 2012, p. 4). According to Robbins and Coulter (2012), there are four control processes that managers may use to measure performance; personal observation, statistical, oral, and written reports. Wal-Mart managers would benefit performing personal observations and statistical reports. Using the personal observation report process will provide managers in their departments a visual of how the employees are interacting with the customers. Observing employees interaction with customer will determine the employee’s job satisfaction, which is…...

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