Concept 1: Performance monitoring and evaluation
Concept: It is defined as a strategic approach to the management skill, which incorporates leaders, employees and managers and also the stakeholders along with the techniques and tools to a plan on regular basis, it continuously supervise, measures periodically, go through the performances in terms of targets and indicators for the efficiency, impact and effectiveness.
Application of the concept: I would like to become a manager of any organization and would love to concentrate on this evaluation plan. It is important for the managers also to supervise and evaluate the progress of the final goal and also finally achieving the goal. I would look forward to monitor the performances of the staff which would involve tracking, measuring or the process of verification is needed which would yield a better performances result. As a manager, it would be my would be my soul responsibility to first monitor the performance of the staffs who would work under me, then as a leader it is important for me to determine the problems that my staffs are facing and aiding the employees to achieve success in life. After that, it is also important to note down the opportunities for the employees in order to boost their performance. I would use specific time, quality and quantity and also the metrics which should be based on financial must be taken into account to point out the measurements of the performance evaluation. I also at the same time as the manager of the organization make sure that the evaluation of the performance and the staff is relevant and accurate.
Concept 2: Social capital
Concept: It is a potential which is productive in nature and its origin is from a stronger relationship, cooperative effort and trust.
Application of the concept: I being a commercial banker, accordingly I am also aware about the need to develop my social capital. I have a fair idea that while waging interaction with a new person is a way to explore new network which would in return impact the environment which is professional in nature. In the last few years, I did a critical research on the some important areas. Firstly, it was important for me to focus on the profile of LinkedIn. In my arena of connections, there are many people who are unknown to me. Therefore, on the weekly basis, I explore the ways to establish relationship with the unknown people so that they could help me out by establishing new connections with me and also provide support in terms of giving benefits to my career goals. Along with this, I would love to focus on the people with whom I work with alongside with on various which are however not for the organizations based on profit. Therefore, in these cases, there are Business leaders who need to know about these tactics of an organization. An organization called Frost needs to continuously share our culture and story with the more people to continue to raise awareness of the organization.
