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Performance Evaluation Innovation
Analysis of the field
Innovation is terminology that is derived from Latin word “innovare” and refers to renewal. From business and economic point of view, innovation is new thing that brings great significance to the company or the organization. Innovation is mainly associated with the idea of invention, invention here has to be differentiated with that which has not yet been extracted or exploited and utilized as a creative achievement of an arising problem solution compared to innovation (Hasler et al., 2016 and Maletič et al., 2016). On the other hand management is a terminology that is constantly being used by organization or companies to a task of coordinating activities aimed at achieving set purpose, goals, and objectives. Therefore innovation management refers to a systematic ranking of innovations in company and to gain benefits, for instance: brand products and services to dominate new markets, improvement of company’s processes purposely to strengthen and to save costs, improved services and products to be unique from competition among others.
My analysis on the state of the field of innovation management is that, innovation has risen to be termed as buzzword of a moment marked by fast technological changes. Today’s business in the world where management is termed has the fundamental to the development process, innovation is therefore a noteworthy element of management (Öberg, 2016 and Teece et al., 2016). As the economies progress to develop the business milieu admits that innovation management is a necessary and fundamental condition for companies and organizations to attain uttermost success. Additionally, my analysis also touches on the fact that management is the main driving force for the major strides achieved, and again support is a major motivational tool for the staff to win against internal resistance to a company’s innovativeness. Top management also empowers accounts in order to improve innovation’s feasibility over incrementally improve their products, bearing in mind that this type of empowerment also possess the ability to endanger the innovation process, and again management’s excessive involvement can either leads to success or failure.
Innovation is constantly becoming one of the major significant determinant for a company’s growth and success. As such, nurturing innovation in a company or an organization is significantly important as a company initiative. Despite this, several companies are faced with internal issues or dilemmas which curtails the process of innovation. To start with one of the issues is that at times employees are not motivated to innovate, this is due to the fact that most managers fear that innovation will likely to distract the employees from their daily roles. Hence, about less than 39 percent of the employees hardly feel motivated to take risks or venture into new ideas. Internal innovation demands that empowerment of leadership and managers to take a lead across the company
Additionally, when a company is missing innovation strategy it becomes a major setback or a dilemma which mainly if it is lacking the company’s innovation strategy will fail terribly to achieve its goals and operational implementations. Therefore, missing innovation strategy innovation by itself risks misalignment. Another current dilemma in the field of innovation management is that centralization of innovation to a single functional group. Akin to that, in many companies, innovation is a solely responsibility of single functional group like product development with a myth that one group is more suited to perform innovation therefore becoming a major hindrance to innovation.
One of the gaps innovation management that deserves further research is the gap of innovation expectations which to most company’s executives is very significant for the future success of the company or organization, and again innovation results is another gap that require further research since leaders are not satisfied with the innovation results the companies achieve.
Research Topic
Background information of the research topic
The paper dwells on performance evaluation innovation as a crucial business factor that helps organizations prosper in a competitive environment. With the increasingly growing competitive environments in a digital world, organizations are leveraging on the ability of their employees to innovate and come up with new ideas that can be used to give them a competitive edge over their competitors in the market (Atkins & Seitchik, 2016 and Christensen et al., 2016). The employees in an organization contribute to the success of the company through the innovative ideas they invent with the resources being given to them by the organization. The employees’ behavior is described as Innovative Work Behavior (IWB) and it entails their continued effort to make the company processes and activities smooth by inventing new ways to do things.
Employee evaluation is attained when the employees are continuously passed through tests from time to time that gauge their performance. This is what is referred to as performance evaluation innovation. Companies have a role to provide a suitable working environment for their employees to encourage innovation from them. To do this, the company needs to provide the necessary resources to the employees that they may need to innovate new ideas that will be helpful for the company in the long run (Day & Schoemaker, 2016 and Jones et al., 2016). The employees need a platform to showcase their different capabilities. For instance, during the performance evaluations, the employees are given a chance to demonstrate their innovations or ideas for innovation that will help the company in its operations.
The long run effect of performance evaluation innovation is helping the company gain a competitive advantage over the other competing firms in the market (Lynch & Jin, 2016). In the process they end up enjoying more profits because of a significant market presence created by the employees who showcase their innovative ideas to the market to see.
Current relevant theories in the topic
Performance evaluation or appraisal as seen from the perspective of objectives, entails an observation of employee characteristics and working to determine their performance and consequently their contribution into the success of the company they are working for as a whole (Roberts & Piller, 2016). Employee performance evaluation follows three theories namely social comparison theory, feedback intervention theory, and equity theory.
Social Comparison Theory
According to social comparison theory, individuals based their performance on the performance of their peers hence being able to make a judgment concerning how they are performing. In this process, the individual is not only concerned about their performance, but about the performance of their peers so that they can make corrective measures regarding the same. For instance, when their performance is lower when compared to that of their peers, the employee will be forced to worker harder to measure up. On the other hand, if their performance is above those of their peers, the employee will have to work harder to maintain that margin and stay on top. The social comparison theory has an effect of helping individuals improve how they are performing when they are faced comparative and unfavorable information.
Feedback Intervention Theory
The feedback intervention theory states that when an individual with a situation where their goals and the feedback received are contradicting each other, the individual is motivated to reach a higher performance level. The performance appraisal process therefore has the effect of informing an employee about the mismatch existing between their performance and the organization-accepted standards. This implies that their performance is lower when compared to the standards set by the company they are working for and this calls for them to pull up their socks.
Equity Theory
According to equity theory, employees tend to do a comparison of their outcomes with those of their colleagues. When highly-performing employees see that the lower performers are getting lesser appraisals and lesser rewards, they motivated to continue with their high-quality performance to avoid the shame associated with poor performance. On the other hand, the underperforming individuals are forced to work harder to avoid the poor rewards they are receiving from their employers.
Is the research topic impactful to industries or technologies?
Without a doubt, the topic of performance evaluation innovation will impact many industries as it has always impacted such fields. As noted above from the beginning of the paper, the business environment is continuously changing especially in as far as digital technologies are concerned. The environment is becoming more competitive and hence requiring firms to be innovative to counter the increasing competition from their competitors in the market. Therefore, the research topic discussed in this paper- performance evaluation innovation, has a positive impact on the working of companies in the current competitive working environment. Industries can maximize the effects of evaluation performance by innovating newer performance appraisal methods that can be applied in their organizations. For instance, the employees in such organizations can integrate the existing performance appraisal methods to innovate newer, complex, and an inclusive method that comprises of the essential components of the existing methods to gauge the performance of their employees. Through this methods, they can know the type of employees they should keep in their organizations and those to lay off.
Future Directions
Specific areas of further research
In the field of innovation management, it is believed that everything always has a capability to be improved to a better version of it through incorporation of innovation. Performance evaluation innovation, being one of the subtopics lying within the larger innovation management field, also has areas of future research that will prove beneficial for the working of the process in organizations. The specific areas of future research in the topic of performance evaluation innovation include;
Performance appraisal based on different employee capabilities
Most of the times, employee performance evaluation innovations are based on collective criteria that do not take into consideration the different capabilities that individual employees have. The general appraisal forms usually come with fixed departmental or organization-wide questions to evaluate the performance of the employees. Therefore, future research in the topic should try to come up with ways in which the different capabilities held by different employees are taken care of. Employee performance should not be solely based on some general setout criteria and not on the individual set of skills that the employees have that contribute positively to the company’s overall success.
Performance evaluation with informality
Many studies indicate that many of the methods applied in employee performance evaluation are of official nature and this sometimes is not friendly for some of the employees (Kavadias et al., 2016). Therefore, a research gap exists in finding a way in which organizations can apply both formal and informal methods in their employee evaluation processes. This makes sure that all the employees in the organizations are taken care of.
Potential impact of the topic to the overall state of the field and the future directions of innovation management research
The topic of performance evaluation is without a doubt of impact to the overall state of the innovation management field as well as the prospective changes in the direction that the field will be taking in the near future. The current state of the field is that companies are in a competitive environment that requires them to be competitive to remain relevant in the market. Companies that are not able to cope with the high competition in the market are prone to obsolescence and they can be pushed out of the market. Going into the future, the competition is predicted to be even higher as companies embrace incoming technologies including cloud computing, big data, and business intelligence among others (Metz et al., 2016 and Thornhill-Miller & Dupont, 2016).
Therefore, performance evaluation topic will be critical for the working of employees in the coming years in that through the topic, employers will have to innovate new evaluation criteria for their employees in relation to the changing technologies. The companies will be forced to lay off many of their employees who will attain the performance measure that is in line with industry-required standards (Sattayaraksa & Boon-itt, 2016).
Performance evaluation Implications for future social change
Performance evaluation will have future implications for social change will have an implication on the effective methods reinforcing the desired behavior in managing employees’ performance, company executives will have to disseminate instant feedback associated with personal goals, and giving little weekly bonuses to their employees who will perform an exemplary work within the company to motivate them to work further, and again challenging the underworking employees to work extra hard to get appraisal via bonuses (Vecchiato, 2016). Most successful companies across the globe will be replacing yearly reviews with often, informal check-ins between employees and company managers.
Additionally, performance evaluation will pose implications for future social change in the sense that employers will have ability to acknowledge that the managers and the employees will sometimes despise the appraisals terming them as small citing them as small and it will eventually lead to be a perennial issue that will require urgency since labor market will be rising up and issues concerning staff retention will also be encountered. Several companies will view also view annual views to be a limitation that needs to be done away citing emphasis on huge financial rewards as well as punishments every end of the year structure as they will be holding employees’ accountable for previous behavior at the cost improving prevailing performance while at the same time improving future performance.
Performance evaluation will also implicate future social change through playing a critical role in economic setting through dissemination of enough capital, which will enable employees to let go, which to reward and which to keep, and for those reasons, traditional appraisal will work pretty well. Talents will also be in inadequate supply, and developing individuals will be a bigger issue and companies will have to seek methods of meeting those needs.
References
Atkins, A., & Seitchik, M. (2016, Fall). So you think you can innovate? Rothman Management, 33–37.
Christensen, C. M., Bartman, T., & van Bever, D. (2016). The hard truth about business model innovation. MIT Sloan Management Review, 58(1), 31–40.
Day, G. S., & Schoemaker, P. J. H. (2016). Adapting to fast-changing markets and technologies. California Management Review, 58(4), 59–77. doi:10.1525/cmr.2016.58.4.59
Jones, J. N., Cope, J., & Kintz, A. (2016). Peering into the future of innovation management. Research Technology Management, 59(4), 49–58. doi:10.1080/08956308.2016.1185344
Kavadias, S., Ladas, K., & Loch, C. (2016). The transformative business model. Harvard Business Review, 94(10), 90–98.
Lynch, R., & Jin, Z. (2016). Knowledge and innovation in emerging market multinationals: The expansion paradox. Journal of Business Research, 69(5), 1593–1597. doi:10.1016/j.jbusres.2015.10.023
Metz, P., Burek, S., Hultgren, T. R., Kogan, S., & Schwartz, L. (2016). The path to sustainability-driven innovation. Research Technology Management, 59(3), 50– 61. doi:10.1080/08956308.2016.1161409
Roberts, D. L., & Piller, F. T. (2016). Finding the right role for social media in innovation. MIT Sloan Management Review, 57(3), 41–47.
Sattayaraksa, T., & Boon-itt, S. (2016). CEO transformational leadership and the new product development process: The mediating roles of organizational learning and innovation culture. Leadership & Organization Development Journal, 37(6), 730–749. doi:10.1108/lodj-10-2014-0197
Thornhill-Miller, B., & Dupont, J.-M. (2016). Virtual reality and the enhancement of creativity and innovation: Under recognized potential among converging technologies? Journal of Cognitive Education & Psychology, 15(1), 102–121. doi:10.1891/1945-8959.15.1.102
Hasler, K., Olfs, H.-W., Omta, O., & Bröring, S. (2016). Drivers for the adoption of eco-innovations in the German fertilizer supply chain. Sustainability, 8(8), 1–18. doi:10.3390/su8080682
Maletič, M., Maletič, D., Dahlgaard, J. J., Dahlgaard-Park, S. M., & Gomišček, B. (2016). Effect of sustainability-oriented innovation practices on the overall organisational performance: An empirical examination. Total Quality Management & Business Excellence, 27(9/10), 1171–1190. doi:10.1080/14783363.2015.1064767
Öberg, C. (2016). Let’s talk about innovation. IMP Journal, 10(3), 540–560. doi:10.1108/IMP-12-2015-0065
Teece, D., Peteraf, M., & Leih, S. (2016). Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy. California Management Review, 58(4), 13–35. doi: 10.1525/cmr.2016.58.4.13
Vecchiato, R. (2016). Disruptive innovation, managerial cognition, and technology competition outcomes. Technological Forecasting & Social Change, 116, 116–128. doi:10.1016/j.techfore.2016.10.068
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