DeVry University, Chicago
MGMT 410
1. What is the role of PM in establishing and maintaining corporate culture? Performance management is extremely important to maintaining a corporate culture. This is because to properly manage individuals you need a team. By having the upper management and middle management focus on training and developing this culture we can use PM as a
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1. What is the role of PM in establishing and maintaining corporate culture? Performance management is extremely important to maintaining a corporate culture. This is because to properly manage individuals you need a team. By having the upper management and middle management focus on training and developing this culture we can use PM as a guide in order to see what gaps there may be. This will allow us to make necessary changes in order to continue the corporate culture that was formed. 2. What is the role of compensation and benefits in establishing and maintaining corporate culture? Making sure that personnel are paid and given the correct benefits directly reflects how the corporate culture works. The company should incentivize raises based on PMs. This will help to continue to drive the culture that have been established by the management team as well as the PMs. Also, by offering better compensation and benefits, you can attract better employees. According to (Troy, 2017) there are 3 things that are the responsibility of the benefits and compensation team. These are attract, motivate, and retain. By doing this we retain our best staff, motivate those that already demonstrate the culture, and of course attract the best employees. 3. Since laws, labor markets, and customs relevant to PM, compensation, and benefits differ from country to country, does it make sense to try to maintain a common global process for managing each of these areas? This can be difficult to answer accurately however according to (Rebecca R. Hastings, 2021)
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