A Case Study On Performance Management Of VOLVO

With the development pace of the global economy,enterprises have realized the importance of the internal performance management which would be helpful to motivate employees as well as to improve financial performance.Therefore,there exists growing number of researches about this field all over the world.Meanwhile,enterprises continue optimizing its own program,which contributes to the foundation of this article.Based on the worldwide research results,this article uses Volvo sales cars Ltd as the case to give analysis with the help of performance management theory.Firstly,clearing the clues of these researches as well as comparison with the performance evaluation.Consequently,performance has four functions of motivation,communication,support and value.In the view of internal and external,long-term and short-term,SMART principle,the foundation of performance management has been settled.Based on this,the connection between financial management,human resource management and strategic management have been discussed.Secondly,performance data of Volvo from 2009 to 2015 has been distributed through economic?environmental and social channels.The result of that works as the proof to show the success of this program,at the same time,it shows the potential areas to be improved.This case analysis contributes to the following forecasts of performance management.In conclusion,performance management indicators have transmitted from financial ones to non-financial ones,accordingly more vast evaluation ways come up.By the way,performance management is a dynamic process so it has to be through the whole circle not only in evaluation but in the feedback.Then,Volvo has its successful performance management program due to its being comprehensive,further-view and effective.However,whether this program can contribute to its sustainable development is ambitious.At last,performance management will grow with the new coming problems,and we can look forward to more comprehensive and more effective programs with continuous improvements,this area contains endless potential.