Sabic Company Performance Management Systems

Document Type:Essay

Subject Area:Management

Document 1

What follows next is an analysis of the firm and its performance management system and appraisal process’s review. Further, there is an examination of its approach to addressing raters’ bias. This paper, therefore, reviews the Sabic Company; reviews its performance management system, and examines its approach in addressing raters’ bias. The Sabic Company Vision statement The Sabic Company’s vision statement is to be the favorite global leader in the production, distribution, and sale of chemicals (SABIC, 2018). The firm's management believes that strong chemistry is a basis for strong relationships. The company’s management believes in being closer to its consumers. This has been one of its strategies even as it aims at expanding its customer base and being the preferred provider of chemical products globally.

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The firm has been integrated by use of advanced technologies and forging of global alliances and acquisitions; one of these being the purchase of the B&W Company (SABIC, 2018). Sabic strategy revolves around its vision and the firm seeks to enhance the efficiency of its operations and services. Efficiency, in this case, is not about producing the products as required by the consumers. The other strength is its diversification through subsidiaries like the Sabic Innovative Plastics of the United States (SABIC IP) that deals in computers, office stuff, electronics, among many other items. The only weakness of the firm is the large ownership by the government that creates room for manipulation of its operations by government officials. Since it is considered a public entity, there is likely to be increased cases of fraudulent operations.

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The opportunity for the firm is its increased presence in different nations of the world. As the population of the Middle East increases and the continued development of the region with the rise of the Emirates and other economies, the Sabic Company is likely to increase in terms of market base. The company values its drive for continuous improvement. Consequently, it implements advanced annual improvement drives. After every year, it comes up with new goals and objectives to enhance the management of its performance management. Senior leaders of the firm conduct performance review periodically and take responsibility for compliance with the existing modes of operation. Based on this information, the PMS at the Sabic organization is an excellent one that can spur the sustainable growth of the company (Boyle, 2013).

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Because of that, here is a great alignment between the two variables (Fatile, 2014). Even though there is a proper alignment between the firm’s strategy and performance management in human resources, there are various ways that it can increase the same. One of these is by improving the levels and frequency of performance assessments. The increased frequency will help in the identification of different gaps that the organization needs to take care of to ensure better outcomes in the production processes. When the managers implement this initiative, they are able to encourage a proactive approach to the handling of operations to achieve its goals and objectives. References Boyle, I. O. Individual Performance Management: A Review of Current Practices. APMBA (Asia Pacific Management and Business Application), 1(3), 157-170.

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