ENTREPRENEURSHIP

Detailed explanation-1: -A performance appraisal is a systematic and periodic process of measuring an individual’s work performance against the established requirements of the job. It’s a subjective evaluation of the employee’s strengths and weaknesses, relative worth to the organization, and future development potential.

Detailed explanation-2: -Explanation: Performance appraisal means evaluating an employee’s current and/or past performance relative to his or her performance standards. Performance appraisal always involves setting work standards, assessing the employee’s actual performance relative to those standards, and providing feedback to the employee.

Detailed explanation-3: -Performance appraisal is a process for evaluating and documenting how well an employee is carrying out his or her job. It is part of a company’s performance management system. Performance appraisals are based on the employee’s progress against goals set once a year with his or her manager.

Detailed explanation-4: -Performance appraisal is the process of evaluating and documenting an employee’s performance with a view to enhancing work quality, output and efficiency. Performance appraisals perform three important functions within companies. They provide feedback to a person on their overall contribution for a period.

Detailed explanation-5: -Explanation: Performance standards are the expectations of the organization from a particular job. All the employee is aware of the performance standards of the job usually when they start the job. Hence, at the time of performance appraisal, the supervisors assume that the employees know their performance standards.