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Another factor that has had an impact on the change of the Greek retail sector was that banks made it easier for individuals to get personal loans cholesterol medication bad cheap lasuna 60 caps without a prescription. The 2005 annual report of the Bank of Greece indicates that from 1995 to 2004 the amount of personal loans have increased by 72% cholesterol test minuteclinic trusted lasuna 60 caps. Commentators have related this rapid growth of debt with the growth of sales of big department stores (To Vima cholesterol medication guidelines 2015 buy lasuna 60 caps with visa, 2004) definition of cholesterol molecule order 60 caps lasuna otc. The massive economic crisis Greece faces has affected the structure of society entirely including citizens/consumers, economic sectors as a whole and individual businesses. The crisis created a completely new economic environment, with conditions in which many businesses (producers, suppliers and retailers) have never performed. However, the degree of impact may differ in various sectors since the decrease of demand is more visible in some sectors or in some sub-sectors. Retailing in general is one of the major sectors that experience tremendous difficulties and it is in the beginning of its new transformation. Even successful companies from etailing (internet retailer e-shops), have been struggling as the uncertain economic environment increased pressure on operating profits (Euromonitor, 2012). Since mid-2009, when the economic turmoil began to hit the Greek economy, until mid-September of 2011, about 65,000 stores have terminated their operation (Smith, 2012). Non-grocery retailers face the biggest problems in terms of demand, turnover and store closures. For example, many well-known domestic and international apparel and consumer electronics retailing chains. The food retailing sector enters in a new phase due to various significant changes. Also, it is very difficult for a foreign retailer to enter the Greek market (Manifava, 2012). Consumers continue to buy the necessary goods by taking also advantage of any promotional offerings in hypermarkets, supermarkets, and discounters. In addition, consumers turn increasingly towards private label products due to their lower prices since the economic crisis influences dramatically consumer spending. However, an interesting development is the fact that Greek consumers turn towards products made in Greece (Kosmides, 2011). All the above compose a very competitive environment in which the retailers are called to operate. It is anticipated that strategic actions will take place such as investments in private label products due to the increased demand. Other predicted developments include a series of acquisitions (smaller retailers will be acquired since they felt the economic pressure more), and some big retailers will open new stores as part of their expansion policy (Manifava, 2012). Generally speaking, Greek management is associated with fewer rules of formalisation, and less hierarchical decentralisation. The preference of Western scholars for these rational models of explanation has been critiqued by Eisenhardt and Zbaracki (1992) who suggested that theorists should be more concerned with reallife processes, rather than being rooted in the normative tradition. A "critical case" (Dawes-Farquhar, 2012) was selected aiming to recruit respondents from the major sub-sectors of the Greek retailing sector. Two sets of four in-depth interviews (two phases), informal discussions varying in number and length with each one of the respondents, and observations were made. All interviews took place in Greek, which is the native language of both researchers and respondents. The purpose of this research is to help the authors create a better understanding of the decision making process of retailers under uncertainty. For that purpose the cognitive mapping technique was employed (see figure 1 for example). Spicer (2000) defined cognitive mapping as a suite of techniques and methodologies which are designed for the elicitation and representation of individual knowledge and understanding. As a research tool cognitive mapping has its strengths and weaknesses; a detailed account can be found in Ahmad and Ali (2003). The first one relates to the components of the environment that are creating environmental uncertainty, and the second one is related to the type of uncertainty that retailers are experiencing. With respect to the first theme, taken together the interviewees suggested that there are eighteen components of the business environment that are causing the state of uncertainty.
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The sources of the feedback may be more reticent with their information if they know that criticism can lead to a reduced pay increase cholesterol profile definition cheap lasuna american express. Using both interviews and questionnaires cholesterol juice recipes generic 60caps lasuna with amex, the views of the 200 managers who took part in the 360 degree systems was compared with a similar sample of managers who participated in the traditional appraisal system cholesterol lowering foods crossword buy generic lasuna line. Chapter 8 Performance management 321 the results indicated a widespread satisfaction with 360 degree feedback with significantly higher mean scores from participants in areas such as: Appraisals help my career development cholesterol pills grapefruit juice order lasuna on line amex. Many examples were given of managers addressing weaknesses highlighted by 360 degree process, making progress in areas of personal development and receiving positive feedback from colleagues as a result. Moreover, the positive experience from the scheme led to more favourable assessments of the organisation as a whole. Source: Mabey (2001) An American research project found that the performance of managers improved after the introduction of a 360 degree system, especially where the subordinates ratings were lower than those of the self-ratings by the managers (Smithers et al. Stage 4: the outcomes from the performance management process There are two major outcomes, which follow from an effective performance management system: Rewards and Development. However, the intrinsic rewards of being recognised and congratulated for the good work that has been carried out are a very powerful and effective motivator, as Hertzburg (1968) first pointed out. There are also negative rewards in that performance data can be the basis of disciplinary proceedings or an important part of the criteria for choosing employees to be made redundant. The first is career development, where performance data can influence, often decisively, promotion decisions. In other words, the performance management system acts as a training needs analysis. There is considerable debate currently on the issue of whether to mix the planned outcomes of a performance management system. Foot and Hook (1999), for example, are quite adamant that: `It is difficult, if not impossible, to devise a scheme that will appraise successfully all. Without an honest and open discussion, many development needs may not come out into the open and this could affect the future performance of the employee. On the other hand, it would be unusual, to put it mildly, if all the information gained from an effective system does not affect decisions on pay. Given that most organisations now operate a pay system that rewards higher performance in some way, it could be regarded as rather irrational to give the same pay increase to two employees, having identified that one employee performs considerably better than another, or to base pay increases decisions on a totally different system. Operational issues There are some final issues to clarify in respect of initiating and implementing a performance management scheme. Chapter 8 Performance management 323 the need to consult It is clear that the performance management is central to the way an organisation and its employees operates, so it is vital that all concerned understand the underpinning objectives of the scheme and how it should work in practice. Opportunities should therefore be provided for consultation with all stakeholders (managers, employees, unions and staff representatives) before a new scheme is launched. Meetings, focus groups and attitude surveys are all ways that this consultation could be carried out. Training for participants It is not sufficient to simply send round the organisation a printed guide to operating the scheme. Nor is not just managers who need training for it is a joint process between managers and their staff. Some organisations have developed joint workshops for departments who role-play appraisal interviews, often with managers and departmental staff reversing their positions. This was remarkable, especially in the light of the attention currently given in most organisations to improving the quality of teamwork. If the performance management system is to reflect organisational priorities, it is important to consider ways that teamworking can be incorporated into a performance management framework. This can be through team targets, joint team appraisal interviews or applying teamworking as a core competence. Working with the Board to identify an outline performance management framework where vital business objectives can be cascaded through the organisation and key competencies developed. Designing an outline scheme and carrying out a full consultation process with all of the stakeholder groups. Agreeing a final approved scheme including revisions arising from the consultation and producing an information pack to all involved. Acting in an overall moderating role, where decisions on pay are made arising out of the scheme to ensure consistency and fairness. Conclusion Apart from the success of 360 degree feedback, it has been a theme of this chapter that performance management is difficult to devise, impossible to operate without severe problems, and normally received badly or, at best, indifferently, by employees.
The achievement of objectives is also closely linked to management training and education cholesterol risk calculator effective lasuna 60 caps, which act to provide the skills and knowledge required to meet objectives cholesterol drugs purchase cheap lasuna online. It also serves as the mechanism for feeding back information to the manager about current levels of performance cholesterol levels canada chart 60 caps lasuna with amex, enabling them to identify and negotiate adjustments or further development needs hdl cholesterol foods to eat purchase cheap lasuna on line. Although the focus of performance management is on extrinsic rewards, intrinsic rewards through praise, encouragement and reassurance are vital components in management development, particularly in the area of coaching and mentoring. For example, for younger managers who may be on fast-track graduate programmes (see section on graduate development later in this chapter), continuous positive feedback during the early stages of the programme is vital to sustain motivation and commitment. Older, more experienced managers also need regular praise, encouragement and, above all, reassurance that their skills and experience are still valued and appreciated, and that any investment in personal development is seen as being positive from the organisation,Дфs viewpoint (Mumford, 1997). In Organising management development programmes 373 the past, career development very much reflected more traditional organisational structures and cultures. Hierarchical progression was seen to be upwards through clearly defined junior, middle and senior management roles based on tenure and the possession of specialist skills and the display of patterns of expected behaviours. However, in the face of radical organisational change such pathways are now giving way to a more uncertain and less clearly defined progression where,Дтautomatic,Дф promotion is no longer available to many. The pace of change over the last decade has shattered career and financial expectations, generating a need for individuals to re-examine many of the inherited wisdoms of the past. The demise of the job for life and the trend towards a wholly flexible employment market are clear examples of the extent to which new agendas are being set. This in turn reflects a redefining of the psychological contract that exists between managers and their employing organisation (Herriot and Pemberton, 1995). In terms of career progression, the emphasis is shifting towards individuals who display greater flexibility, adaptability and personal characteristics such as emotional resilience (Watson, 2002). Some will find themselves facing a,Дтboundaryless,Дф career in which there will be less job security and career progression opportunities will be limited. Instead, career progression is likely to involve a greater emphasis on horizontal or diagonal rather than vertical movement. Organisational policies in terms of career planning workshops, mentoring arrangements, performance management systems and processes etc. The new imperative for organisations will be to ensure that their managers are made fully aware of the realities of the changing nature of their careers, with concomitant efforts being made to reward, retain and motivate those who find themselves moving sideways, not upwards. The risk of not attending to these issues is that the relationship between managers and their employing organisation becomes one that is short termist and calculative, stifling innovation, creativity and a developmental outlook (Watson and Harris, 1999). Unfortunately, there is evidence to suggest that some organisations appear to be unaware or unwilling to communicate the harsh reality of the changing nature of managerial careers to their managers. The picture emerging then is one of traditional career management structures and approaches struggling to balance and reconcile organisational and individual goals which themselves are changing in response to an increasingly self-centred, instrumental climate. In addition, managers will require the knowledge and skills to progress horizontally and diagonally. In this 374 Chapter 10 ¬ Management development sense, management development approaches will have to reflect the required selfreliant, adaptive and intellectual capacities that such career moves suggest. Implementing and evaluating management development programmes Earlier in this chapter the question was posed:,ДтWhy are we developing this manager? Again, in keeping with our open systems principles and ideas, it is important that any implementation plan acknowledges the diversity of management roles and responsibilities and the contexts in which they operate. When organising development programmes, it is important to cater for the diversity of management skills, attitudes and experience that reside within the organisation. One useful example is given by Odiorne (1984), who advocates a portfolio approach to development to improve the overall efficiency of the process and ensure the optimal allocation of resources. This requires organisations to make a range of decisions and develop a,Дтmix,Дф of contingent objectives and techniques arranged to match the profile of the management team in the organisation. A portfolio approach to development,ДтStars,Дф: high-performing, high-potential managers Aim: create challenge,уи provide incentives and reward,уи allocate adequate resources and effort. Organisations may be unclear about the aims and objectives of their development activities and how they meet their needs.