THE IMPACT OF PERFORMANCE MANAGEMENT SYSTEMS ON BUSINESS SUCCESS
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- NGN 5000
This study explores the impact of performance management systems (PMS) on business success. Objectives include: (1) evaluating how PMS contributes to organizational goals, (2) analyzing the relationship between PMS and employee productivity, and (3) assessing the long-term effects of PMS on business performance. A survey design is employed to gather quantitative data from a broad range of respondents. Using Taro Yamane's formula, a sample size of 320 is derived, ensuring statistical significance and reliability. The case study focuses on the manufacturing sector in Lagos, Nigeria, where efficient performance management is vital. The reliability coefficient score is 0.85, indicating high reliability. Findings reveal that robust PMS significantly enhances business success by aligning individual performance with organizational objectives and improving overall productivity. Recommendations include the implementation of comprehensive PMS frameworks and regular training for managers to maximize system effectiveness.
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