REVERSE PERFORMANCE APPRAISAL
By: Ashutosh Saxena
DICT Infotech Pvt.Ltd, Jabalpur, Madhya Pradesh, India
It is common knowledge that managers and owners of business typically conduct performance appraisals on a formal and periodic basis, to assess an employee’s job performance and ability to meet organisational goals. Such evaluations allow supervisors to give feedback opinions on how well subordinates meet expectations and to offer specific recommendations on what subordinates can do to improve their performance. In modern management practice, the concept of a reverse appraisal enables employees to evaluate the effectiveness of their managers too. While the process of performance evaluation of employees provides supervisors with the tools to evaluate a subordinate’s performance and to create a mutual understanding of individual needs, work objectives, and standards of acceptable performance, likewise it is only equitable that subordinates should also be equipped to suggest ways for managers/ supervisors to improve their performance and help develop their managerial potential. In one sentence this new idea of Reverse Performance Evaluation refers to a process that allows subordinates to rate their supervisors.
Key Words: Reverse performance, appraisal, management, evaluation.
STRATEGIC QUALITIES: LEADING TO GLORY IN THE WORLD OF MARKETING
By: Anamitra Roy
Freelance Writer and Management Professional, Salt Lake City, Kolkata, West Bengal, India.
“Marketing is a total system of business activities designed to plan, price, promote and distribute want – satisfying products, services and ideas to target markets in order to achieve organizational objectives.”
Marketing is one of the most fascinating fields to pursue. It teaches you the sales techniques, brand development and promotion strategies, the methods to build distribution channels and the process of keeping the loyal customers pulled back. But there is a twist in the story. Anybody and everybody are not eligible to take up these teachings and develop a great career in this field. You need to develop some strategic qualities for taking up these lessons from the world of marketing.
Key Words: Strategic quality, marketing, organization.
NURSING AUDIT: QUALITY CARE
By: Rajesh G Konnur
Associate Professor, Kurji Holy Family Hospital College of Nursing, Patna, Bihar, India
Nursing involves care and empathic care. Maintaining a quality of care requires audit. Audit is a crucial component of improvements to the quality of patient care. Clinical audits are undertaken to help ensure that patients can be given safe, reliable and dignified care, and to encourage them to self-direct their recovery. These types of audits are undertaken to help reduce lengths of patient stay in hospital, readmission rates and delays in discharge.
During the beginning of 19th century, due to the relationship between industrialisation and health – industry concept audit was introduced in health care delivery system. George Groward the physician introduced the term “medical audit”. In 1955, the first report of nursing audit was published.
Generally audit is a systematic review and critical examination of records and other data to determine the quality of services or products provided in a given situation.
Nursing audit is the process of analysing data about the nursing process of patient’s outcome to evaluate the effectiveness of nursing interventions.
Key Words: Audit, systematic, quality, encourage, patient.
ADMINISTRATION OF WAGE AND SALARY
Lecturer, Khalsa College of Nursing, Amritsar, Punjab, India
Wage and salary are incomes derived from human labour. Technically, wages and salaries cover all compensation made to employees for either physical or mental work, but they do not represent the income of the self-employed. Labour costs are not identical to wage and salary costs because total labour costs may include items such as maintenance charges of cafeterias or meeting rooms for the convenience of employees. Wages and salaries usually include remuneration such as paid vacations, holidays, and sick leave, as well as fringe benefits and supplements in the form of pensions or health insurance sponsored by the employer.
Definitions: Wages are payments made by the employer for the efforts put in by the workers in production. There are payments made for the services rendered by labour by paying him/ her by the hourly or daily rate and then he/ she is stated to be in receipt of wages.
Key Words: Administration, wage, salary, vacation.
Retired Banking Professional and Freelance writer, Beliaghata, Kolkata, West Bengal, India
Stock market is an organised and regulated financial market where securities such as shares, bonds, notes etc. are bought and sold at prices ruled by the forces of demand and supply. Such market is also known as the equity market and is one of the most vital segments of a market economy because it provides business organisations with access to capital and allows investors to own companies and participate in their growth. Stock market could be a physical place, sometimes known as a Stock Exchange, where brokers assemble to buy and sell stocks and other securities. ‘Stock’ means part or fraction of the capital of a company and ‘exchange’ means transferring of ownership represented by a market for purchasing and selling securities. Today, the term is also used more broadly to include electronic trading that takes place over computer and telephone lines. In older times, trades in stock exchanges were conducted on the floor (called the trading floor) by shouting orders and instructions. This has transformed now to trades being conducted over telephone or online. In fact, in most markets around the world today, the entire stock trading is handled electronically. Almost all exchanges are ‘auction exchanges’ where buyers enter competitive bids and sellers enter competitive orders through a trading day.
Key Words: Stock exchange, stock market, electronic trading.