AN ASSESSMENT OF THE APPLICATION OF OPERATIONS RESEARCH TECHNIQUES

AN ASSESSMENT OF THE APPLICATION OF OPERATIONS RESEARCH TECHNIQUES IN THE DECISION MAKING PROCESS OF MANUFACTURING COMPANIES

PROJECT ABSTRACT

In today’s complex and aggressive business environments, it is only an effective decision making that gives organizations an edge over their competitors. Since organizations continuously make decisions, managers should ensure that it is done scientifically so as to minimize the inherent risk of errors in the subjective approach to decision making. This work seeks to appraise the application of operations research techniques in the decision making processes of manufacturing companies. This study therefore sets to identify the various operations research tools applied in decision making, the benefits of using operations research and the various limitations to its application. The target population of this study is made up of the entire top, middle and lower management staff of the selected manufacturing companies; Innoson, Anammco and Juhel Nigeria Limited. Stratified sampling method was adopted so as to give a fair representation to the selected organizations in the ratio of 3:5:2 using the proportionality formular.(Q=A/N × n/1). The study obtained its data from both primary and secondary sources. The questionnaire was the major instrument of collecting data for the research. Interviews were also conducted to complement the information from the questionnaire. Data analysis was done through the use of tabular presentation, pie and bar charts. The five (5) formulated hypothesis were also tested for acceptance or rejection using the chi-square statistical technique. The findings indicates that linear programming, Network Analysis and decision trees are some of the operations research tools used in decision making and that the benefits enjoyed as a result of applying operations research to decision making justifies the expenditure incurred in that respect. The study also recommends that the use of operations research should be encouraged and sustained in view of the numerous benefits it offers to firms and that firms should embark on aggressive training of personnel to reduce resistance to its use.

CHAPTER ONE/INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Everyday, managers makes decisions that commit organizational resources. These decisions determine the survival, growth or even death of an organization. The decision making process is not always activated when a manager perceives a problem as most decisions are made to ensure the stability, continuity and expansion of good prospects and operating performance. (Akintoye and Oluwatosin, 2006; 387).The Process of decision making requires the analysis of alternative solutions and the identification and selection of the alternative that offers the best outcome.

Managers today especially in developing countries use exclusively experience, hunches and rule of thumb in their decision making process. This qualitative approach may be found useful and adequate in certain circumstances but inadequate in others. When the problem is repetitive and the data are quantifiable, we find greater scope for the application of the quantitative techniques to ensure rational and logical decisions.

 

Okeke (1996; 1) opines that in the qualitative approach to decision making, the manager relies on his personal intuition or past experience in solving similar problems. Such an Intuitive “feel” for the problem may be sufficient for making a decision. He however concluded that there are problems for which more quantitative approach is inevitable.

 

This quantitative approach that we mean here goes by so many names; Management science, operations research, Quantitative Management, Decision Sciences, Systems Analysis etc. Although attempts have been made by some writers to differentiate these terms, they are quite often used interchangeably, their unifying factor or common denominator being their utilization of the techniques of Mathematics, Engineering, Economics, Computer Science etc in finding solutions to organizational problems.

Operations Research is simply defined as the application of scientific methodology in making more explicit, more systematic and better decisions. (Litterer, 1978:171).Scientific methodology is defined as a process of or logical approach to developing models that explain and predict real-world behavior. (Dannenbring and starr, 1988:1).Thus operation research seeks to describe, understand and predict the behavior of complex systems of human beings and equipment (Stoner, 1982:186).

 

As the name implies, one can say that operations research means research on operations. Filley and House (1969:10) have noted that organizations and their component units carry on goal-oriented activities referred to as “operations” and that the systematic study leading to decisions as to which operations should be undertaken and how they should be tackled  is termed “research”. What management scientists or operations researchers do is to observe decision making environment, try  to identify, define and analyze problems, construct models which seek to solve these problems, choose those inputs of data required for a solution, find the optimal solution when it could be found and help in the implementation of the identified solution(Levin et al,1986:5).Operations research provides managers with quantitative basis for decision making and enhance their ability to make long range plans and develop broad strategy.

 

Operations research is approached in a spirit that demands that decision problems be properly defined, analyzed and solved in a conscious, rational, logical, systematic and scientific manner based on data, facts, information and logic (Loomba, 1978:25).The quantitative techniques inherent in management science are not to be regarded as an explicit formular to be uniformly applied to all types of situations. Rather, it is a style of management, which demands a conscious, systematic and scientific analysis and resolution of decision proba,1978:26-27).But the fact that the use of quantitative data constitutes the corner stone of operations research does not in any way preclude the use of qualitative analysis in arriving at optimal decisions. The quantitative approach, must build upon, be modified by and continually benefit from the experiences and creative insights of managers. The final stage in the decision making process, after all, is the exercise of judgment and in making this judgment, the decision taker has to take different factors-quantitative and qualitative into account. For example, there may be sudden change in government policy or of government itself, change of weather, technological advancement and so on. And this makes it very necessary for managers to involve qualitative approaches in decision making.

1.2. STATEMENT OF THE PROBLEMS 

The use of operation research tools in decision making presents a lot of challenges to the modern day manager irrespective of the benefits that comes with it.

Mathematical models are applicable to only specific categories of problems since not all business related problems are amenable to Mathematical modeling or configuration. Issues such as motivation, leadership style, organizational politics etc cannot be modeled. (Akintoye and oluwatosin; 2006:336)

 

The insufficient number of qualified and experienced personnel who could effectively apply these operations research models to firm’s decision making presents another problem. There are few professionals who have acquired practical exposure in the application of operations research to decision making in firms.

Finally resistance to changes is another issue that confronts the manager in the use of operations research in decision making. The use of operations research often generates resistance from employees and management because its implementation usually introduces changes to the known convention within the organization. This fear of the unknown may inhibit objective implementation of the recommendations. (Akintoye and oluwatosin; 2006, 336).

1.3 OBJECTIVES OF THE STUDY

The specific objectives which the study seeks to achieve are;

1) To determine the various operations research models used by organizations in decision making.

2) To identify the benefits derived from applying operations research models in decision making processes of firms.

3) To find out if the benefits derived from implementing operations research techniques in making decisions justifies the expenditure involved.

4) To determine the nature of the relationship existing between the use of operations research in decision making and the productivity levels of firms.

5) To identify problems which manufacturing firms encounter in the application of operations research to decision making?

1.4 RESEARCH QUESTIONS

This research study will seek to provide answers to the following research questions;

 

1) What are the various operations research models used by organizations in making decisions?

 

2) What benefits do organizations derive from the application of operations research models to decision making?

 

3) Does the benefit which accrues to firms by using operations research in decision making justify the expenditure involved?

 

4) What is the nature of the relationship between the use of operations research in decision making and the productivity levels in firms?

 

5) What are the problems encountered by manufacturing firms in applying operations research models in decision making?

 

1.5 RESEARCH HYPOTHESES

The following hypotheses would be tested for acceptance or rejection;

1)  HO1:   Linear programming, Network Analysis and Decision tree are some of the operations research models used by firms in decision making.

      Hi1:  Linear programming, Network Analysis and Decision tree are not some of the operations research models used by firms in decision making.

2) Ho2: Cost reduction, increased productivity and efficiency are some benefits enjoyed by firms that apply operations research tools in decision making.

   Hi2: Cost reduction, increased productivity and efficiency are not some of the benefits enjoyed by firms that apply operations research tools in decision making.

3) Ho3: The benefit that accrues to firms by using operations research in decision making justifies the expenditure incurred in implementing it.

     Hi3: The benefits that accrue to firms by using operations research in decision making do not justify the expenditure incurred in implementing it.

4) Ho4: There is a positive linear relationship between the use of operations research in decision making and the productivity levels in firms.

    Hi4: There is no positive linear relationship between the use of operations research in decision making and the productivity levels in firms.

5) Ho5: Employee resistance, lack of commitment and insufficient number of specialists are some limitations encountered in using operations research in decision making.

     Hi5: Employee resistance, lack of commitment and insufficient number of specialist are not some of the limitations encountered in using operations research in decision making.

1.6 SIGNIFICANCE OF THE STUDY

This study has both practical and Academic significance to the society. The basic significance of this study is that it focuses on a subject on which very little has actually been written on so far.

 

Though manufacturing companies have existed for decades, very few authors have really explored how operations research models could be applied to organizational decision making in manufacturing companies. In this light, this study would contribute in building a literature on operations research.

 

1.7   SCOPE OF THE STUDY

The study is on the appraisal of the application of operations research models to the decision making process of manufacturing companies. The study is limited to selected manufacturing companies in Enugu, south eastern Nigeria. Manufacturing companies are scattered in Enugu and it will be difficult to cover all of them  given the constraints involved in such exercise.

The study will therefore concentrate on the following companies;

  1. a) Innoson Technical and Industrial Company Limited
  2. b) Anammco Nigeria Limited
  3. c) Juhel Nigeria Limited

 

These companies were chosen because of their large market share and most importantly the use of the scientific method in their decision making process.

In addition to the above named organizations, the work will make general references to all manufacturing organizations as the need arises.

1.8   LIMITATIONS OF THE STUDY

The basic limitations to this study are those that have to do with time, finance and the attitude of the respondents.

 

  1. a) Time: The time limit for this study is very limited. This research work is time consuming and because of the limited time the researcher could not obtain all the information needed for this study.

 

  1. b) Finance: Another prominent limitation to this study is the limitation placed on finance. The budget for this research was so huge and the researcher has not got enough money to embark upon the study. Due to the financial constraint, the researcher could not visit places where information relevant to the study could be obtained.

 

  1. c) Attitude of the respondents: Finally the lack of corporation of the respondents nearly frustrated this research effort especially as it has to do with the companies employees. The respondents were unwilling to supply the necessary information even when they have been assured confidentiality and that the information supplied would only be used for academic purposes.

In spite of these limitations, the findings of this research will still be valid.

1.9 DEFINITION OF TERMS

  1. a) Decisions: This is a choice or judgment that is made by a manager after thinking about what is best to do.(Hornby,2001;301)
  2. b) Decision making: This is the analysis of alternative solutions and the identification and selection of the alternative that offers the best outcome.(Akintoye and oluwatosin,2006;387)
  3. c) Models: A model is an idealized representation of a real life situation which allows managers to analyze and understand a system very well.
  4. d) Operations research: This is a multi-disciplinary area of activity that is concerned with organizational problems, the location of optimum solutions to problems relating to performance of men, money, materials and machines.

e)     Productivity: This has to do with the rate at which a firm produces goods and the amount of goods produced compared with how much time, work and money is needed to produce them.

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ABSTRACT

This project work is focused on the role of leadership in promoting creativity and innovation (the study of selected manufacturing firms in Enugu urban). The project work is aimed at examining the effects of leadership role on creativity and innovation, the factors and challenges expected by leaders and employees during creative process. The writer employed the use of historical research method. In review of related literature in chapter two of this works. In chapter three, the researcher made use of survey research plan in which questionnaire were split into two sections: questionnaire on leadership and employees opinion concerning creativity and innovation process. Furthermore, the writer employed the use of stratified random sampling in selecting the sample size for the study. The writer formulated four hypotheses in line with the problems and objectives of the study. However, the researcher adopted the use of chi-square statistical test in testing the hypotheses which the following results emerged: that motivational incentives for creativity and innovation have encourage the exploration of hidden talents in the work place, there is significant relationship between managers/leaders and employees in promoting creativity and innovation, leaders setting unambitious tasks on employees have not reduce stress and hypotheses four indicate validate by concluding that leaders involving their subordinates in decision making process encourage the spirit of team work. Data collected were analyzed and presented with tables and percentages. In view of the findings made, the following recommendations accrued from the result of the research work: that leaders be democratic in their leadership styles as to create enabling environment to improve employees creative ability, leaders should consult their staff in taking key decisions, team members as to achieve set objective and finally, leaders should give adequate support to their employees when embarking on creative process.

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IMPACT OF ADVERTISING ON CUSTOMER’S PATRONAGE A STUDY OF CADBURY NIGERIA LIMITED

CHAPTER ONE/INTRODUCTION

1.1    Background of the Study               

          The essence of being in business by any business outfit is to produce for sales and profits. In order to remain in business, an organization must generate enough sales from its products to cover operating costs and post reasonable profits. For many organizations, sales estimate is the starting point in budgeting or profit planning. It is so because it must be determined, in most cases, before production units will in turn affect material purchases.

Due to the dynamic nature of the environment in which businesses operate and the changing attitude of the consumer of their products, there is need for most companies to develop, modify or change their advertising strategies to suit the present changes. Companies must give more than consumers want from products; they must inform consumers and carefully position products in consumers’ minds.

          Cadbury Nigeria Limited is a major manufacturing company in Nigeria; it produces a wide range of household consumables such as Bournvita, Éclairs chocolate, sweet, choco-milo, pronto etc. Its establishment in Nigeria dated back to the year 1956 when Cadbury Fry export, a United Kingdom based firm, began sales of Pronto at No 9, Orange Road,Apapa Lagos firm. Mr. George Heywood, export representative of Cadbury was sent to Nigeria from his base in the Gold Coast (Ghana) to report on the potentials to significantly increasing sales. His very enthusiastic report was accepted. Cadbury brothers then rented a warehouse at 10, Aerodrom Road,Apapa.

          The success of Cadbury’s first product (Pronto) in the Nigerian market led to the introduction of Bournvita and Malt based food drink, which also was an instant success. In December 1963, the ware house was expanded to include a small production unit which packed bulk supplies of pronto and Bournvita from UK, iInto tins Cadbury Nigeria Limited was incorporated on the 9th of Jan. 1965 as an autonomous arm of Cadbury Schweppes group.

          Cadbury Nigeria Limited has diversified into a wide range of household manufacturing activities which includes Tom-Tom sweets, Parazone bleach, Buttermint Sweet, Goody Goody and Tomapepe. Trust is a potent factor in the development of the company over the years. In 1964, sales volume of Bournvita and Pronto rose to such a level that a complete manufacturing scheme for the production of Bournvitaand Pronto was established and local production started in May 1965.

          The company has a marketing division, economics research and development; computerization and efficient information management system have been introduced into the firm operation.The present factory established in 1966. It was nearing completion when the civil war in Nigeria broke out and this disrupted the project for some time. During the period, Cadbury recorded a sale decline as the Eastern states which were cut off accounted for over 50%of total sales. During the period however, the government placed a ban on the importation of finished goods/products. With its manufacturing facilities in place, Bournvita and Pronto then had the market to themselves. Production of Tom-Tom Sweets was introduced that same year, over 2million pounds was approved for new products, including capacity expansion of some brands Cadbury Nigeria Limited became a public company in 1976.The decision to go public was actually made ahead of the enterprise promotion decree of 1977.

          The Jayes health and chemical arm was establishes also in 1976 to produce parazone bleach and other household chemicals. The following year, 1977, the first phase of a Malta extract plant was established to produce Malta extract from barley thus replacing import of Malta barley. Further sales of shares in 1978, in compliance with the decree, saw equity holding changing to 40% foreign and 60% Nigeria. Cadbury Nigeria Limited is investing in the future, a mark of confidence in the business. Its workforce has grown from a handful of 250men in Jan 1966 to over 2000 of which nearly 350 are management staff, of the 10 directors, 6 are Nigerians.

          The company operates sales area offices in Lagos, Ibadan, Kaduna, Jos, Kano, Aba, Enugu, Asaba, Sokoto, Maiduguri and Ilorin. Trading records have been particularly impressive too. Growing from a turnover of one hundred and Twenty thousand pounds to Three Hundred and Thirty Seven Million Naira in 1989, the company had made huge investment in several manufacturing process, plant and equipment. 

The success of any organization is the acceptability of its products by the consumers because manufacturing or production is incomplete until the product gets to the final consumers/buyers. A lot of studies have been carried out from the origin of advertising to its current trends. For instance, Holtje (1978) as quoted by Ewuola (2004), pointed out that modern advertising operation started during the American Colonial days corresponding with the time the colonial newspapers were accepting advertisement directly from people and institutions that needed their services. Some local post offices were also assisting in this respect by acting as agents for these newspapers.

1.2     Statement of Problem

One major fact is that we are bombarded with advertisement messages day-in-day –out from all imaginable media. The average consumer is exposed to a very large number of advertisements every day, particularly the urban and semi-urban population. Advertising has been perceived as a veritable medium of stimulating, motivating and influencing the purchase and other behavioural response of their prospective customers.  How has advertising been able to achieve this and attract patronage of Cadbury products? Can it be said that Cadbury has made a success of its advertising based on what the consumers want? Is there any advertising strategy adopted by Cadbury in the advertisement of its products? Is there really a relationship that exists between advertising strategies in Cadbury Nigeria Plc; does Cadbury Nigeria Plc have any advertising strategy; is there any advertising strategy that would build brand loyalty among consumer?These and many other issues is what the research seeks to address and to find answers to.

1.3     Objectives of the Study

Theobjectives of this research are:

  1. To determine the relationship that exists between the various advertising strategies employed by Cadbury Nigeria Plc.
  2. To evaluate the effectiveness of Cadbury Nigeria Plc advertising strategies.
  3.  To examine the best advertising strategy that would build brand loyalty among consumers.
  4. To analyze the factors that will influence the behavior of the consumer as it relates to advertising strategies.
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STRATEGIC PERFORMANCE MANAGEMENT A TOOL FOR PUBLIC SECTOR TRANSFORMATION A STUDY OF SELECTED FIRMS IN NIGERIA

ABSTRACT

The objective of this research work is to examine Strategic Performance Management as a tool for public sector transformation with reference to Federal Inland Revenue Service, National Agency for Food and Drug Administration and Control and the Nigerian Communication Commission. Data for the research were collected through primary and secondary sourëes. The collected data were analyzed in tables and simple percentages, while the hypothesis were tested using the Chi-square statistical technique. The findings of the study show that: (i) Strategic Performance Management have resulted in increase in tax revenue generated by FIRS and improved regulation by NAFDAC and NCC. (ii) Strategic Performance Management is relevant in transforming public sector organization into efficient institutions. (iii) There is a relationship between Strategic Performance Management and Operational efficiency. (iv)The various key performance indicators used to measure performance in public sector are effective in motivating mployees towards achieving pre-determined objectives. Based on the above findings, the study concludes that the public sector can be ran efficiently as in the private sector if performance anagement processes are put in place. Drawing from the conclusion, it is therefore ecommended that efforts should be made to identify simple, meaningful metrics that are driven from the top-down and are relevant to specific stakeholders as they are critical to performance Lmeasurement, success and public sector efficiency. It is also recommended that corporate [nission statement should be motivating for members of the organization and of the society and [hey should feel it worthwhile working for such an organization or being its customer

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND OF THE STUDY

There is increasing demand on government and its agencies to imbibe governance and  leadership principles that will enable it function and deliver services more efficiently. This is a global phenomenon. Although the advanced economies are progressively pursuing programmes and implementing transformational strategies aimed at making their institutions more responsive and function at optimal level of efficiency, the developing economies are still at the lows of such efforts. According to McPherson and Ebrig (2005). “Every successful corporate transformation is built upon a solid foundation of effective governance. The private sector has spent years working to develop better models for governing corporate investments and other critical decisions, as well as for monitoring the results of those decisions”. They noted that companies that have gotten governance right have an edge over competitors in reaching and sustaining high performance.

McNamara (1997 – 2008) posits that the private sector efficiency was achieved on the strength of the implementation of strategic performance management systems. He defined strategic performance management as “the systematic process by which an agency involves its employees, as individuals and members of a group, in improving organizational effectiveness in the accomplishment of agency mission and goals.” This system, he contends is largely lacking in the pubic sector.

Following that strong lead from the private sector, government agencies are also seeking to create more effective governance models that can increase their chances for successful transformational efforts in strategy, sourcing, information technology, workforce performance, finance and many other areas. McPherson and Ehrig notes that such governance model cannot simply be lifted from the corporate arena and applied to the public sector without modification “Unique cultural and structural charactenstics of government organizations must be accounted for if governance models are to be successfully applied”

The Federal Inland Revenue Service (FiRS), National Agency for Food, Drugs Administration and Control (NAFDAC), and the Nigerian Communication Commission (NCC) are three institutions that successfully implemented transformational programme with very visible result in terms of operational efficiency The organizations have fully adopted the private sector operational model with highly improved service offerings This research work will therefore focus on the transformation strategy and current operational module to provide a guide for its replication in other government institutions

1.2 STATEMENT OF THE PROBLEM

Private sector operational efficiency is a gulf away from the gross inefficiency of the public sector institutions and agencies. Service delivery in the public sector is at sub- optimal levels. And the reason is that governance culture in those agencies does not emphasize efficiency in its processes and procedures as, could be achi&ved through the implementation of strategic performance management. Their major challenge is lack of ability to implement clear performance measurements that makes it possible to execute ‘corporate strategy successfully. Problems often associated with strategic inefficiency in the public sector organizations includes:

Failure to determine and clearly set out of objectives to be achieved

Non-identification of alternative ways of achieving the objectives.

Non-evaluation of alternatives in terms of its objective-achieving ability

Initiatives for cost-cutting often do not come with concrete delivery plans

And most importantly bureaucratic bottlenecks and inappropriate allocation of resources also hindered efficient public sector performance.

These issues highlighted above threw up the interest to carry out this study to examine how the application  of strategic performance management could transform public sector organizations into productive and efficient institutions.

1.3       OBJECTIVES OF THE STUDY

FIRS a few years ago launched a strategic transformation programme to restructure and strengthen its processes and procedures. The objective was to set the platform for greater eefficiency in tax administration and operating process uncommon in the public sector. The outcome of this effort is a significant turnaround in its operations with impressive results. The  study therefore aims at establishing the following:

i           To determine the extent strategic performance management has resulted in increase of revenue generated by Federal Inland Revenue Service, monitoring and regulatory process efficiency in NAFDAC, and NCC.

ii          To determine the relationship between operational efficiency and strategic performance management.

iii         To evaluate the various key performance indicators (KPIs) used to measure employee performance in Federal Inland Revenue Service and by extension, other public sector organizations.

1.4       RESEARCH QUESTIONS

The fol1owing research questions were formulated to guide the study:

1.         To what extent has strategic performance management resulted in increase of revenue generated by Federal Inland revenue Service, monitoring and regulatory process efficiency in NAFDAC, and NCC?

2.         Is strategic performance management relevant in transforming public sector organizations into efficient institutions?

3.         Are there key performance indicators (KPIs) in place in the Federal Inland Revenue          Service, National Agency for Food and Drug Administration and Control, and Nigerian Communications Commission to measure employee performance and do they motivate?

1.5 STATEMENT OF HYPOTHESIS

Considering the statement of the problems and the objectives of the study, the following

research hypotheses were formulated to guide the study.

H01:      Strategic performance management has resulted in increased tax revenues generated by Federal Inland Revenue Service/regulatory compliance of National Agency for Food and Drug Administration and Control, and Nigerian Communications Commission.

H02:      Strategic performance management is relevant in transforming public sector

organizations into efficient institutions..

H03:      The various key performance indicators used to measure employee performance in

the public sectors are effective in motivating employees towards achievement of pre-

determined objectives.,

1.6       SIGNIFICANCE OF THE STUDY

The following are the importance of the study.

It will be very useful to the management of Federal Inland Revenue Service towards ensuring that corporate goals and objectives are met effectively and efficiently.

This research will also help FIRS, NAFDAC & NCC to know how employee performance could be improved towards achieving corporate goals.

It will enable the Management of public sector institutions to know how strategic management could bring the much needed transformation in the organization.

It will also be beneficial to other public sector agencies that suffer from inefficient management to improve their performance

This research will also be beneficial to student and professionals carrying out further research in the areas of strategic performance management as it will serve as a good reference material.

1.7 SCOPE OF TIlE STUDY

This research work is based on FIRS, NAFDAC and NCC. It examined strategic performance management as a tool for transformation of public sector organizations. The research depends on primary data collected from three institutions.

1.8 LIMITATIONS OF STUDY

The researcher is however, constrained by time and means to reach out to several firms in the industry located in all geo-political zone of the country hut the few covered. (3 in numbei) would foim useful basis foi the conclusions anived at in the study Also in the course of interviewing respondents, the researcher discovered that the iespondents were scared of giving out information necessary lbr the study for the suspicion that the researcher is an agent of the much dreaded “Economic and Financial Crime Commission (EFCC).

1.9 DEFINITION OF TERMS

Performance Management: This refers to activities which ensures that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the process to build a product or services, as well as many other areas

It is also known as a process by which organization align their resources, system and employees to strategic objeëtives and priorities.

There are three types of performance management:

–           Long – Cycle Performance Management: This Type of performance management is usually done on an annual, every 6 months, or quai terly basis From implementations standpoint, this area is the one that has traditionally received the most attention This is so for historical ieasons as most performance management techniques/styles predate use of computers.

–           Shor t-Cycle Performance Management: This is type of performance management that is usually done on a weekly, bi-weekly, or monthly basis. From implementation standpoint, this sort of management is industry-specific.

–           Micro-Performance Management: This is the type of performance management generally done on a by-minute/hour/day basis

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