Performance is the act or process of performing a task or function. A company will manage an account in the following ways; setting goals, performance review, and performance improvement plans. In goal setting, objectives are established, and the employees are evaluated against the performance criteria. The performance goal of employees should line up with the company’s goals. A performance review is where an employee’s progress is assessed towards a goal. Employees’ strengths and weaknesses are documented regularly to help the company make decisions concerning employees’ training needs, promotional opportunities, or increase in payment. Performance improvement plans are used to help employees who are not doing well in their performance or new roles.
The strategy is a plan of actions designed to achieve an overall aim. The strategies used to meet the objectives of a company and overcome any issues are; expanding sales to existing customers, understanding customer’s needs, offering the best services, partnering with customers in providing solutions, getting new customers from innovation, investing in customer management, differentiating the products, managing costs and creating performance-focused culture.
Reference
Rummler, G. A., & Brache, A. P. (2012). Improving performance: How to manage the white space on the organization chart. John Wiley & Sons.