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7 March 2016

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1.Why did Freeport-McMoRan need a performance management system? •The price of copper jumped significantly in 2006, so they needed to ramp up production to make more profit •They needed to change their strategy on handling a changing marketplace and remaining competitive •Each mine was run separately, so employee organization was difficult to determine •They acquired a company which operated differently than they did, so they needed more standardization

2.How will it help the company if it has to adjust its strategy in the future? •A performance management system acts as a sort of template for organizational goals, and it can be modified fairly easily based on changing goals, conditions and variables •If contributions from certain areas with the organization need to change, the goals are available to everyone for easy and instant access

3.Do you think a pen-and-paper performance management system could have been as effective as the electronic system Freeport-McMoRan adopted? •No

4.Why or why not?
•Electronic media is the only way to ensure instant, real-time, and consistent access to company information •Pen-and-paper is wasteful, especially since it can be easily outdated by minor changes made to information

1.Why do nonprofits such as the San Diego Zoological Society need an appraisal system if their goal is not to maximize their profits? •Profits are not the only reason for appraisals:
oEmployee development is also a key factor in determining success, and showing employees their value in the company by linking it to compensation oSetting and tracking goals is another way of ensuring growth in alignment with business objectives

2.What do you think are the pros and cons of using a web-based appraisal system? •Pros: instant, real-time access; quantifiable metrics; transparency; contribute to employee performance; helps to determine whether any performance gaps or missing areas exist that need to be addressed •Cons: high implementation costs; not always simple to use; require a lot of explanation; reduces face-to-face contact among employees and supervisors

3.How do you think the new appraisal system will affect employees and the types of employees who work at the zoo? •When employees know the business objectives, they are more inclined to act in ways that support them •When employees support the business objectives, they feel more loyal to the organization, so retention will increase •The zoo will find it easier to hire employees who believe in their objectives and want to support them because they are clearly defined and easily accessible

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