Business Research paper

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Describe the four key elements of a good performance appraisal.
A formal structure through which directors review the performance of the workers they administer is referred to an employee performance appraisal. The four major elements of a good performance appraisal include objectivity, connecting of assessment to expectations, forward-looking, and consistent (Kokemulle).
Many factors can lead to a company failing.  Discuss the external conditions that can occur that would hinder the success of a company.
The external conditions that can take place are as follows:
• Finance: The solvency of financial institutions and big banks and the Wall Street may influence the capability to carry on doing business. Interest rates and the accessibility of customer and credit debts are external elements that can be controlled.
• Economy: Fluctuations in market relied on terrorist attacks, currency devaluation and wars, politics affect the most business enterprises.
• Climate: Hurricanes, storms, wildfires, and tornadoes are the external conditions that influence the businesses. The extensive climate events mostly convey a considerable adverse influence on a variety of industries.
• Substructure: The residence expansion, zoning rules, and highway construction are specifically vital to trade formations, builders, hotels and other businesses that depend on a site for achievement. Transformation in the domestic substructure can prove calamitous to the organization (Ray).

Discuss your understanding of the POWER SWOT.  How can this method increase the effectiveness of a strategic plan?
One of the most integral aspects of an organization’s tactical planning procedure is a SWOT analysis since it offers an appropriate all-around image of the firm’s present and future-looking scenario. The weaknesses and strengths segments offer a view of the firm’s current rank. The threats and opportunities segments assist the firm predicts trials and possibilities moving forward. A SWOT study is a valuable instrument for tactical planning and brainstorming. The examination can assist a firm to decide if and how they must:
Deal with alterations to the rival’s operations
A retort to fresh trends
A gain benefit of a fresh business possibility
Implement fresh technology
Works CitedKokemulle, Neil. Elements of a good performance appraisal, 2017, https://careertrend.com/elements-good-performance-appraisal-system-11661.html. Accessed 09 April 2018.Ray, Linda. Seven external factors of business, 2018, http://smallbusiness.chron.com/seven-external-factors-business-21960.html. Accessed 09 April 2018.