These are determined from the industrial organization. The strategic management is imperative to develop the ways for the company to develop its own niche consumers (Richard and Johnson, 2001). These needs to be factored along with the external markets. It is alluded that the company needs to develop a practice that is based on external consumer requirements. Nevertheless The best approach that the companies need to use is balancing of the internal and the macro environmental factors. They are combined to achieve the competitive advantage by the company.
Hence the performance management in the company is based on the implicit incentives and the explicit incentives. These incentives are based on the information to improve the overall incentives. Initially, the filtering of the uncontrollable risk and discretion needed to respond to the controllable risk to improvise the firm value. From this, H&S company need to develop performance management and remuneration based on the level of performance. The level of performance of the people depends on the employee relationships. These have been detailed in the following. The recommendations for the company ensure that the performance management and employee relationship have been detailed in the following.
The companies need to understand the performance management system. The companies need to find ways to measure performance. The employees are used to monitor and assess the improvement process. The employees are used to monitor and assess the people based on the performance. A line is drawn to link between the employee’s contributions with the organizational goals. Towards the end, there is a gap that is forged in the companies that impact the organization’s growth. Reward system must be based on feedback system and reward system (Dyer and Reeves, 1995). As a modern interpretation, the use of Social media portals within the company and the intranet server of the company must post information about the diligent and successful employees.