ECONOMIC CRISIS, PERFORMANCE MANAGEMENT

Year 2009, Volume: 6 Issue: 1, 1 - 21, 01.06.2009

Doc. İng. Josef Vodák İng. İvana Tesarovičová

Abstract

In this article we discuss the current economic crisis and its influence on the companies. We are going to compare common approaches which are in use in many of the Slovak companies and discuss the opportunity to change our attitudes and to take the crisis as a challenge, as an opportunity to built better company today as well as in the future. The focus of this article lies in performance management tools and human capital. Currently, the vast majority of the world is confronted with the ongoing economic crisis. We need to prepare for the fact that the next few months are likely to yield significantly worse results than what we were accustomed to, including also the countries that has been until now rapidly developing. Year 2009 will certainly be doubtlessly a very challenging one. As the situation in Slovak companies is not simple, we tried in our analysis of the situation describe the way managers perceive the current situation, list the most frequently adopted measures and to assess these reactions from our point perspective and to suggest appropriate approaches from the perspective of long-term success of the organization

Keywords

Crisis, performance management, talent management, human potential, education

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