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Performance measures likely to have greatest performance impact on management behavior

Introduction

               Performance targets is the main determinant of employee pay and if repeated continuously the becomes like the character of the organization (Houldsworth, E. & Jirasinghe, D., 2016). Failure to meet target may demoralize the company owners and shareholders and inform their decision to reduce pay. The vice versa is also true. The year 2019 was one of the best years for Newcrest gold mining company as it saw its shares rise by 0.63 % in the Australian Stock Exchange (ASX). The success and increase in revenue by Newcrest gold mining company is accredited to its most valuable assets, the people (human resources). This is according to its post professional linked in page.

When the working conditions for management at Newcrest gold mining company are favorable for the top managers of the organization, then most likely their performance will be favorable. The current Chief Executive Officer (CEO) and Managing Director Dr. Sandeep Biswas in an article is quoted as saying sharing how societal authorization is received by being honest and acquiring conviction via activities.

Newcrest gold mining company is an unhedged fabricator of gold endowed with a strong balance sheet and a strong cash flow. The company is therefore capable to deliver a competitive salaries and wages to its employees and motivational compensation to its shareholders and executive management.

The mission of Newcrest gold mining company is to yield bigger revenues to investors by discovering, developing and operating minerals and more specifically copper mines and gold mines.

Executive pay as an Incentive

Executive compensation or executive pay Newcrest gold mining company is composed of the financial compensation and other non-financial awards received by an executive from their firm for their service to the organization. Executive pay is an important part of corporate governance, and is often determined by a company's board of directors (Houldsworth, E. & Jirasinghe, D., 2016). Executive pay includes executive salary, executive benefits, executive perquisites (Perks), annual executive incentives and bonuses and performance bonuses which entail long term incentives and short term incentives.

Executive compensation is a very vital issue for investors of Newcrest mining company to think through when making decisions. An incorrectly compensated executive can cost shareholders money and can yield an executive who lacks the incentive to increase profits and boost the share price.

Remuneration and Ethical Behavior

Ethical behavior- Ethical behavior requires that there is equal work for equal pay. This is a moral principle that owes its origin from the holy bible which says that give to Caesar what belongs to Caesar and to God what belongs to God. It is backed up by another biblical reference that says he who has not worked should not eat. At Newcrest mining company, the management offer competitive remuneration and packages. There are several incentive arrangement including short- term and long term incentives to employees who are eligible to benefit from them. There are various development programs which enhance the employee’s professional development opportunities across the company (Landy, J. & Farr, L., 2013).

At Newcrest company there’s is also relocation assistance. For those employees who are moving from one state to another or country, the company is in a position to do everything to ensure that workers have smooth transition by giving relocation entitlements and support to them and their family. There are also assistance study schemes to employees who undergo part time study to further their careers. The company is in a position to give assistance to such employees.

Paternal leave

                Newcrest Company provides meaningful financial and non- financial support in all stages of parental process. The program differ in country, or with support mechanisms and benefit that include paid leave.

Motivational theory- This concept recommends that there exists actually two incentive structures: intrinsic and extrinsic which matches to the two kinds of motivators: intrinsic motivators: Achievement, responsibility and competence. Motivators that are derived from the actual performance of the task or job (Wautelet, T., 2017). The intrinsic interest of the work.

The major content models are: Maslow's needs hierarchy, Alderfer's ERG theory, McClelland's achievement motivation and Herzberg's two-factor theory. The major process theories are: Skinner's reinforcement theory, Victor Vroom's expectancy theory, Adam's equity theory and Locke's goal setting theory.

Management control theory

                A management purpose which is aimed at achieving defined goals and objectives within a given period of time, and usually understood to have three main components: (1) setting standards, (2) measuring actual performance, and (3) taking corrective action (Wautelet, T., 2017).

Management control can is defined as a organized effort by business management to compare and contrast the performance to predetermined standards, plans, or goals in order to determine whether performance is in line with these standards and presumably in order for a company to take any remedial action required to see that resources are put in place.

The 3 Types of management controls are Visual, Procedural, and Embedded

The four stages in the control process are creating set standards and Methods for Measuring Performance, Determination of Whether the Performance Matches the Standard, and Taking Corrective Action (Fargus, P. 2014).

Analyze how such results relate to reviewed company

Through the company’s remuneration system and motivation of workers, Newcrest mining company was able to report a statutory profit and an underlying profit of US 561 million, which was higher than the other years. Newcrest limited achieved very good results in the stock market for the financial year 2019.  The company’s strong operating and financial performance allowed it to reduce the debts they had and strengthened the balance sheet as improved dividends to shareholders with the year recording 19% higher than the previous years.

References and Bibliography

https://www.newcrest.com/

Fargus, P. 2014. Measuring and Improving Employee Motivation. Upper Saddle River, NJ: Financial Times/Prentice Hall.

Houldsworth, E., & Jirasinghe, D. 2016. Managing and Measuring Employee Performance. London, England: Kogan Page Publishers.

Landy, F. J., & Farr, J. L. 2013. The Measurement of Work Performance: Methods, Theory, and Applications. New York. Routledge Publishing.

Wautelet, T. 2017. Work Motivation. Can the Productivity Measurement and Enhancement System (ProMES) motivate employees? Munich, Germany: GRIN Verlag.

Worsch, M. 2014. A better Employee Motivation through the Application of Public Feedback Processes: Enhancing the Effectiveness of Job Appraisals. diplom.de.

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YOUR NETWORK IS YOUR NETWORTH

 

19th July 2016/28 Comments/in Workplace /by dickensogango

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Creating a valuable network of connections in the workplace is considered a sure way to quickly move up the corporate ladder. It is the platinum rule of getting ahead in your career.  Connections in your career not only provide advice and guidance on how to tackle different tasks, they also offer the much-needed bridge to get to the next level. This is by offering you a passage to connect with their rich pool of professional connections and also push you to attain your full potential.
Most people have a general idea on the value of professional network connections and its contribution to a successful career.  Networking not only contributes to a steady career growth, it also helps get things done faster and more efficiently, as one can use the input of their networks in a particular task. However, most people find it hard to actually create functional networks. They consider it unnatural to them and quite the daunting task. They consider networking as unnatural to them and something they cannot do.
The tips below will show you how to go about creating and maintain valuable relationships in the workplace.

Make time
This is about your social skills and your ability to interact with people from diverse professional backgrounds. It is a product of excellent communication skills and a likable personality. Your colleagues in the workplace are social beings who thrive on human interactions. Take time to interact with people every chance you get. Be it tea breaks, lunch hour etc. Talk to someone new, regardless of their rank or background. Get to know what they do and how they contribute to the overall organizational objectives. If you are shy, these are the best times to get over your shyness. Do not wait for a formal class on how to overcome shyness, take opportunities that present themselves in the form of professional tete-a-tete. Please note that office gossip is not the way to go when creating networks. Your target here is to know who can help you be the best version of your professional self, not who did what scandalous thing. In fact, being involved in office gossip will make serious, focused people avoid you. Be careful what you discuss and ensure you remain professional.

Look out for mutual connections
Train yourself in the art of reading people to find a common ground. People feel more connected to other people who share a common interest, ideology, point of view etc. Establish connections with people you find it easy to relate with. It makes the whole process more natural and easy. Someone with whom you share a similar interest is certainly easier to approach and discuss a task in the workplace or an idea. Even the simplest of interests e.g a love for football, a liking for a particular movie genre etc, is an opening for great and valuable workplace connections.

Be Diverse in your connections
Always remember that the potential value of any single connection is never known on face value. Network as much as you can within the office. Apart from just improving your communication skills and interpersonal etiquette, it opens your mind to new ideologies, perceptions, and ideas. While you focus on your professional field, be keen to keep warm relationships with the loose ties in other sectors. You never know when you will need input from the guy in finance or sales for your marketing project.

Be specific on the focused pursuits
Even as you maintain diverse interactions with everyone else around you, remember to have a targeted list of things you would like to accomplish with these networks, especially those in the line you would like your career to follow. Senior colleagues in your organization like the CEO or General Manager are busy people and interactions with them will be minimal. This means that you will have minimal interactions with them, so you need to ensure that you make the right impression during such times. When you have requests that require their attention, make the requests specific and to the point. Make it easy for the extremely busy people to help you and create value for your projects by being clear, professional and focused during your interactions with them. When approaching a high profile individual in your organization for their input, make sure you have conducted enough research on the topic of discussion, anticipate the questions they are likely to ask and prepare the appropriate feedback. This way, you get maximum value from a single interaction.

Guard your credibility
Be reliable in your professional dealings. Let people around you know that you can be relied on to do what you said you will do. Deliver results and always do your best when tasks are handed to you. Be careful not to overpromise results and under-deliver on the same. It makes you lose integrity in the eyes of people you would like in your networks. Relationships are about trust and people around you need the assurance that you can be relied on and trusted. Where you make mistakes, own up and seek to offer as much effort as possible in correcting them. A credible reputation among networks makes confidence of others in your abilities and work ethics grow. This will ultimately open doors for you in your career.

Stay in touch
This is mostly for the networks considered loose or weak because interactions are not as regular as your main connections. It is wise to check on these networks once in a while. Their potent value cannot be overlooked. You might need their assistance in future, and the constant connection will make it easy to approach them. Staying in touch also keeps you in their minds, in case they hear valuable information related to your career.

Make your network robust
Build your network strategically. Critically view every interaction as an interview with an individual who could be instrumental in your career life. Choose who to hold close, who to shelf for the moment, and who to keep as just an acquaintance. All these selections should be based on how relevant these people are to the future of your career, the level of connection and shared interests you have with them and how well you click. You will want people who influence, challenge and inspire you as your network connections. Begin creating these networks now and reap the benefits in no time.

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Tags: career growth by networking, how to network in the workplace, networking in the office, Networking in the workplace, value of professional networks

DRAGON FIST- JACKIE CHAN

 I had the pleasure of watching 'Dragon Fist' today. It is one of Jackie's movies from the Lo Wei years. In fact one of the last Jackie made for Lo Wei. I stumbled across a bit of information the other day that I can't verify but it did come out of a Chinese Biography about Jackie so one assumes it to be fairly factual, which said that Lo Wei, after parting ways with Golden Harvest, had been black listed from making movies in Hong Kong by Golden Harvest which is why nearly all those movies were made in Taiwan or Korea. (It is also why Jackie signing with Golden Harvest was such a big deal at the time.)

'Dragon Fist' is a pleasant surprise, apart from being a little confusing in the beginning when you are not quite sure who is who, it warms up into quite a decent story with plenty of really good martial arts action.

There is one scene during the final extended fight sequence that leaves me breathless at the trust shown by the actor/stuntman in Jackie's accuracy. Even making allowances for a little speeding up in the playback of the film Jackie is still punching the guy repeatedly 'in' the face at very high speed. One mistake and some one is VERY sore! Sometimes it is not so much the incredible choreography (one expects this from Jackie) or the amazing agility and accuracy (again this is just expected) or even the martial arts prowess (what can I say - this is Jackie we are talking about) but what does leave me completely amazed is the incredible trust fellow actors/stuntmen show in each others' skill. Mostly it is other actors trusting in Jackie's control but sometimes it is Jackie who trusts some one to thrust (theoretically) very sharp objects near his face and neck (swords, spears and other weapons).

While Jackie's later forays into the never seen before crazy stunts left audiences gasping personally for me what really leaves me gasping is not the sheer bravery (or should that be stupidity) required to jump from a building onto a rope ladder or slide 3 stories down a pole but the incredible physical mastery of one's body in Jackie's martial arts/fight choreography. And that one mostly sees in his earlier movies.

This one is actually one of the better ones. Many of Jackie's really early films you have to say (with some apology) to newcomers 'Well you watch them to just to watch Jackie'. But Drunken Fist doesn't have a bad story even if it is prone to what Jackie calls 'Why you look at me? Fight! Why you look at me again? Fight!' moments. Jackie is of course the good-guy hero who eventually saves the day (but not before quite a few people are dead and EVEN some at Jackie's hand - hmmm Shinjuku Incident was so NOT the first movie in which Jackie killed people in a movie).

It really has some brilliant fight scenes all choreographed by Jackie and you can recognise his hand in the fight sequences even when he is not actually in them.

I know that he says that he thought of choreographing many opponents coming at him at the same time for the first time in later movies (referencing Police Story I think) but I don't agree with him. Even as early this you can see him starting to develop the idea of multiple opponents at once. Although at this point when he does choreograph multiple opponents he is more evasive than actually fighting them. Even at the end of Fearless Hyena when he clearly takes on 3 sword wielding opponents at once, that portion of choreography is much more evasive than confrontational and when he does dispatch his opponents it is back to one-on-one fighting but one can see the thought developing in his choreography even this early on.

Although if one does compare the very realistic fighting multiple opponents he choreographed in Police Story with the almost ritualised 'dance' from Spiritual Kung Fu when he takes on a group of monks with staffs one has to agree with him that he did really only do a proper fight sequence much later on.

Anyway for those of you who haven't seen Dragon Fist some one has kindly uploaded it onto youtube. But again ... if possible please buy a legal copy - apart from anything else it is actually MUCH better than the fuzzy compressed files from youtube.

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https://www.youtube.com/watch?v=EHtYm_DX-MUl

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KENYATTA UNIVERSITY : FACING THE 40TH GRADUATION CEREMONY

KENYATTA UNIVERSITY: THE UNIVERSITY OF OUR TIME

On 15^th July 2016, Kenyatta University will be celebrating its 40^th Graduation ceremony at its main campus located on Thika road, and few kilometers’ from Kenya’s capital city , Nairobi. Time has come that scholars have formed a unified approach to research and study in order to make solutions that can provide solutions to the challenges the community is experiencing. Some of the major challenges that the society is facing include and is not limited to cyber-security which America has declared the fifth war frontier. Others include climate change and which has a direct bearing to food security for our country, Democratic governance and peaceful elections is still uncommon since we still experience a lot of civil unrests and many people lose lives due to politics,, Gender inequality and discrimination against the girl-child.

It is a major requirement in most courses whether in diploma, degree, masters or Ph.D. that the students do research projects. It is really encouraging and you find that many a times the comrades spend a lot of money either from their own pockets or from their parents .The projects always are meant to provide solutions to major issues affecting the society.

The unfortunate event in all this noble mission is that despite the amount of efforts the comrades and their lecturers put in writing, editing and re-editing this projects, few are ever implemented. That is why it has become imperative that comrades become discouraged and some involve themselves in ‘theft’ of exams since they no longer get inspired by the efforts they are making since they believe that the projects are merely meant to pass examinations and not to alleviate societal challenges .It is important to note that there is need for all stakeholders involved to come together and help comrades realize the dream they always have when drafting, carrying out their projects. Other Universities in Kenya are already shivering because they know the speed at which KU is growing is so rapid. University of Nairobi, Moi University,Mount-Kenya, JKUAT, Pan-Africa, Great Lakes University, Jaramogi Oginga Odinga, Laikipia University to mention but a few but Kenyatta University still leads the park.

Kenyatta University is like a rare gem, those who have discovered it are saved. Academically speaking.Only we need to spend on not only writing our noble projects but also implementing them, with this Kenya and Africa and the whole world will never be the same again !

Kenyatta University is privileged to be led by powerful leaders and with Professor Wangari Mwai as the new Deputy Vice-Chancellor for Administration, I believe the sky can only remain to be the limit.