Performance Based Management
The new management that intends to roll out the Nirvana Group’s expansion strategy will be facing a number of issues during the planning and execution phase. This section studies the monitoring and control method that can be put to effective use in building higher levels of capacity and capability for the Nirvana management team. The Nirvana management team will have to evaluate the expansion process with regards to some vital issues like assessment of business requirement, profit leverage, and the competence to run the new business in the competitive hotel industry.
The expansion plan needs a perfect monitoring and control mechanism since the first phase to ensure that the needs of the company are ensured. The important issues in this regard are as follows: 1. Defining the Expansion Objectives – the management needs to first define the objectives and this process should be carried out at the headquarters of the Nirvana Group. The objectives that are set up for the expansion should be made clear to all the regional headquarters of the Nirvana group, and possible additions should take place if necessary.
Also, at the same time, various milestones of the expansion are discussed and these milestones should be monitored regularly to ensure the timely rate of return for the company. 2. Planning and Scheduling of the Expansion Activities – before rolling out the responsibilities within every regional zone of the Nirvana group, it is important that the company posses a securing sponsorship or administrative support which will provide support to the company idea and encourage better synchronization.
Monitoring the regional and the local executives’ in-charge of the regional expansion progress and driving major decisions in order to keep the expansion process on track is important for the management. Also, the cost and the savings that hold a valuable significance for the expansion.
3. Implementation of Scheduled Activities – the implementation plan will compromise of the expansion activities, initiatives that will be needed at different stages of the expansion design, change management, training of the work force, legal review and data privacy, reporting, etc. another important part of this stage is understanding of the level of autonomy and cultural needs of the regions in which Nirvana Group will be planning more outlets.
An competent support system, from the company for the work force will at all times boost the confidence and lend valuable help to the workforce at all times. Performance based management can be an impressive part of the monitoring and control mechanism of the Nirvana Group’s new core management with which they plan the expansion.
Performance based management can work as a systematic approach in order to improve the performance of the employees by setting up objectives, measuring their performances, and subsequently providing benefits or appraisals. The intention of performance based evaluation can serve a number of purposes and benefits to the idea of an impressive expansion of the group. The procedure assists to assess the involvement and contribution made by each individual and every department of the Nirvana Group and offers a serving hand while making judgments, merit scales and promotions.
It efficiently aids the administration to transform the divisional / regional objectives into individual objectives at the same time throwing light over the performance of the individual. The method can easily identify a Nirvana employee’s weak points and strengths and subsequently help the administration chalk out more efficient strategies.
1. ALEXANDER, D. A. H. ELIZABETH. (2003). THE RISK MANAGERS’ HANDBOOK: A COMPREHENSIVE GUIDE TO CURRENT THEORY AND BEST PRACTICES (1ST ED)
2. GORED, M. (2003). RISK MANAGEMENT SYSTEMS: PALGRAVE MACMILLAN. 3. Douglas J. ; Building Adaptation; (2002) Butterworth Heinemann Bridger. 4. Altering Houses & Small Scale Residential Development; (1998) Architectural Press Others: 5. Farmer J. ; Green Shift – Towards a Green Sensibility in Architecture; (1996) Butterworth Heinemann 6. Tolber MA. ; Saving Our Planet – Challenges and Hopes 1992; Thomson Publ.