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Elevating Performance and Navigating Success Through Innovative Performance Management in SMEs
Abstract
In this chapter, the author navigates the dynamic landscape of performance management (PM) within small and medium-sized enterprises (SMEs), a sector marked by agility and unique operational dynamics. The chapter examines the evolution of traditional PM frameworks in light of the rapidly changing business landscape. Serving as a comprehensive guide, it presents insights designed for professionals and business leaders navigating the SME realm. The chapter spotlights the key methodologies and approaches to PM, underscores the criticality of aligning individual goals with organizational strategies and the significance of smart objectives. It further investigates the transformative role of continuous feedback, coaching, and importance of technological integration in PM, emphasizing their relevance in the contemporary SME setting. The chapter concludes by addressing employee development and recognition, underscoring their value in cultivating a culture of excellence and growth within SMEs.
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