Performance Management Systems

As we have explored, throughout Module 1, performance management systems are critical to individual and organizational success. Consider the scenario below and respond to the three questions asked.ScenarioYou are the new owner of a small business. About one week ago, you purchased this business from the previous owner who decided to retire. The previous owner was a phenomenal businesswoman; however, she did not value the importance of performance management systems. When you decided to purchase the business, you knew that you would need to make organizational changes. Based upon the information provided, answer the following questions:1. In your own words, explain the benefits of a performance management system in terms of employee and organizational success.2. Explain the implications associated with poorly implemented performance management systems.3. Address components that you believe your performance management system should include.Embed course material concepts, principles, and theories (require supporting citations) in your initial response along with at least one scholarly, peer-reviewed journal article1 page – apa – strategy planning classModule 01: Discussion ForumTo launch the rich dialogue of what is expected throughout this course, choose a company that has been recognized recently as successful and is located in Saudi Arabia. Then, in an original post, present well-written answers to the following questions:1. Identify the organization and its ownership2. Describe the organization’s products/services3. Describe the organization’s strategy (how does it create value)4. How does Saudi Vision 2030 impact the organization’s strategy? Be specific.5. How does the organization’s strategies support Saudi Vision 2030?Embed course material concepts, principles, and theories (require supporting citations) in your initial response along with at least one scholarly, peer-reviewed journal article.1 page – apa – due 19 janWith Saudi Vision 2030, “Saudi Arabia is moving aggressively to diversify its economy and implement important reforms,” according to Stephen A. Schwarzman, co-founder of the private equity company Blackstone Group (Sorkin, 2017, para. 6).Identify a business leader in Saudi Arabia and explain which characteristics of leadership that person espouses. Find research that speaks to leadership characteristics and their importance. In what ways will the leadership of your chosen person allow for a more diverse economy in the Kingdom? You should justify your position with research you found regarding leadership characteristics and how they apply to your subject.Be specific about the leadership characteristic and find an example of that person exhibiting it.Embed course material concepts, principles, and theories (including supporting citations) along with at least one current, scholarly, peer-reviewed journal article. You may find that your discussion of leadership characteristics is easily supported with such current scholarly research, while the information about how your chosen leader exhibits those leadership characteristics is supported by popular research.