Effective Performance Management: Its Impact on Management Strategy and Organisational Effectiveness

Abstract

The contemporary trends in global competition, rapid technological development and the astronomical increase in the use of management information systems and the internet, developments in planning and control and management creative thinking, and rapid demographics are mounting pressures on developments, profits, and nonprofit organisations today. As a consequence, therefore, companies are having difficulties in achieving sustained performance; they are forced to look for new management approaches to develop a cutting-edge process to deal with existing trends and developments. The effectiveness of organisation’s performance will determine the growth and development of better job performance. In spite of many studies carried out by scholars and practitioners in the area of performance management, much still need to be done about performance management and factors inhibiting its successes. This paper, however, offers a balanced approach to the relevance of effective performance management in building and improving Nigeria’s economy.