The study on factors influencing performance in general insurance : a case study of an insurance company in Kuala Lumpur
The case study is on an insurance company, which has a physical presence in 53 countries and commercial and individual customers in more than 170 countries. As a multinational company, managing people and connecting their performance to corporate objectives will always remain a concern and a challen...
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| Format: | Thesis |
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2011
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| Online Access: | http://library.oum.edu.my/repository/675/1/performance_insurance_praveena.pdf http://library.oum.edu.my/repository/675/ |
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| Summary: | The case study is on an insurance company, which has a physical presence in 53 countries and commercial and individual customers in more than 170 countries. As a multinational company, managing people and connecting their performance to corporate objectives will always remain a concern and a challenge. A majority of organizations today have some sort of formal appraisal systems which make use of a standardized rating form that is used to evaluate employees’ performance. This research shows the benefit of the ‘balanced scorecard’ (BSC) which measures the employees’ performance based on the Key Performance Indicators (KPI). The KPI is aligned with the company’s value, strategy, mission and goals. In order to develop the performance management system, the KPI, performance indicator, Service Level Agreement and the Project Performance Measurement will be identified. This study is done on the factors influencing performance in general insurance. Performance Management and BSC comprise the goals, feedback, training, appreciation and the employees’ career development. With the usage of ‘SMART’ technique, a more realistic and achievable objectives can be created. The research was done through the analysis of the survey questionnaires that were distributed to the employees and the interview which been conducted with one of the managers. Through the analysis we will be able to identify the factors influencing performance in general insurance. Plus, it identifies whether the BSC is suitable and benefits the employees as a tool to evaluate the PM of the employees. (abstract by author) |
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