Performance is completion of a task with application of knowledge and abilities. In work place, performance or job performance means good ranking with the hypothesized conception of requirements of a role. There are two types of job performances: task. Task performance is related to cognitive ability while contextual performance is dependent upon personality. Task performance are behavioral roles that are recognized in job descriptions and by remuneration systems, they are directly related to organizational performance, contextual performance are value based and additional behavioral roles that are not recognized in job descriptions and covered by compensation. Citizenship performance like contextual performance means a set of individual activity/contribution that supports the organizational culture. In the performing arts, a performance comprises an event in which a performer or group of performers present one or more works of art to an audience. In instrumental music, performance is described as "play".
The performers participate in rehearsals beforehand. An effective performance is determined by achievement skills and competency of the performer - level of skill and knowledge. Spencer and McClelland in 1994 defined competency as "a combination of motives, self-concepts, cognitive behavior skills" that helps a performer to differentiate themselves superior from average performers. A performance may describe the way in which an actor performs. In a solo capacity, it may refer to a mime artist, conjurer, or other entertainer. Williams and Krane found the following characteristics define an ideal performance state: Absence of fear Not thinking about the performance Adaptive focus on the activity A sense of effortlessness and belief in confidence or self-efficacy A sense of personal control A distortion of time and space where time does not affect the activityOther related factors are motivation to achieve success or avoid failure, task relevant attention, positive self-talk and cognitive regulation to achieve automaticity.
Performance is dependent on adaptation of eight areas: Handling crisis, managing stress, creative problem solving, knowing necessary functional tools and skills, agile management of complex processes, interpersonal adaptability, cultural adaptability, physical fitness. Performance is not always a result of practice, it is about honing the skill over practice itself can result in failure due to ego depletion. Theatrical performances when the audience is limited to only a few observers, can lead to significant increases in the performer's heart rate above his or her baseline heart rate; this increase takes place in several stages relative to the performance itself, including anticipatory activation, confrontation activation and release period. The same physiological reactions can be experienced in other mediums, such as instrumental performance; when experiments were conducted to determine whether there was a correlation between audience size and heart rate of instrumental performers, the researcher's findings ran contrary to previous studies, showing a positive correlation rather than a negative one.
Heart rate shares a positive correlation with the self reported anxiety of performers. Other physiological responses to public performance include perspiration, secretion of the adrenal glands, increased blood pressure. Bell, B. S. & Kozlowski, S. W. J.. Active learning: Effects of core training design elements on self regulatory processes and adaptability. Journal of Applied Psychology, 93, 296-316. Fadde, P. J. & Klein, G. A.. Deliberate performance: Accelerating expertise in natural settings. Performance Improvement, 49, 5-15. Freeman, S. Eddy, S. McDounough, M. et al. Active learning increases student performance in science and mathematics. PNAS, 111, 8410-8414. Gagne, R. M.. Military training and principles of learning. American psychologist, 17, 83-91. Lohman, M.. Cultivating problem solving skills through problem based approaches to professional development. Human Resource Development Quarterly, 13, 243-256. Meyer, R.. Problem solving skills through problem based approaches to professional development.
Human Resource Development Quarterly, 13, 263-270. Noordzu, G. Hooft, E. Mierlo, H. et al. The effects of a learning-goal orientation training on self-regulation: A field experiment among unemployed job seekers. Personnel Psychology, 66, 723-755
A market is one of the many varieties of systems, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers, it can be said that a market is the process by which the prices of goods and services are established. Markets facilitate enable the distribution and resource allocation in a society. Markets allow any trade-able item to be priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights of services and goods. Markets supplant gift economies and are held in place through rules and customs, such as a booth fee, competitive pricing, source of goods for sale. Markets can differ by products or factors sold, product differentiation, place in which exchanges are carried, buyers targeted, selling process, government regulation, subsidies, minimum wages, price ceilings, legality of exchange, intensity of speculation, concentration, exchange asymmetry, relative prices and geographic extension.
The geographic boundaries of a market may vary for example the food market in a single building, the real estate market in a local city, the consumer market in an entire country, or the economy of an international trade bloc where the same rules apply throughout. Markets can be worldwide, see for example the global diamond trade. National economies can be classified as developed markets or developing markets. In mainstream economics, the concept of a market is any structure that allows buyers and sellers to exchange any type of goods and information; the exchange of goods or services, with or without money, is a transaction. Market participants consist of all the buyers and sellers of a good who influence its price, a major topic of study of economics and has given rise to several theories and models concerning the basic market forces of supply and demand. A major topic of debate is how much a given market can be considered to be a "free market", free from government intervention. Microeconomics traditionally focuses on the study of market structure and the efficiency of market equilibrium.
However, it is not always clear how the allocation of resources can be improved since there is always the possibility of government failure. A market is one of the many varieties of systems, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers, it can be said that a market is the process by which the prices of goods and services are established. Markets enables the distribution and allocation of resources in a society. Markets allow any trade-able item to be priced. A market sometimes emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights of services and goods. Markets of varying types can spontaneously arise whenever a party has interest in a good or service that some other party can provide. Hence there can be a market for cigarettes in correctional facilities, another for chewing gum in a playground, yet another for contracts for the future delivery of a commodity.
There can be black markets, where a good is exchanged illegally, for example markets for goods under a command economy despite pressure to repress them and virtual markets, such as eBay, in which buyers and sellers do not physically interact during negotiation. A market can be organized as an auction, as a private electronic market, as a commodity wholesale market, as a shopping center, as a complex institution such as a stock market and as an informal discussion between two individuals. Markets vary in form, scale and types of participants as well as the types of goods and services traded; the following is a non exhaustive list: Food retail markets: farmers' markets, fish markets, wet markets and grocery stores Retail marketplaces: public markets, market squares, Main Streets, High Streets, souqs, night markets, shopping strip malls and shopping malls Big-box stores: supermarkets and discount stores Ad hoc auction markets: process of buying and selling goods or services by offering them up for bid, taking bids and selling the item to the highest bidder Used goods markets such as flea markets Temporary markets such as fairs Physical wholesale markets: sale of goods or merchandise to retailers.
Finance is a field, concerned with the allocation of assets and liabilities over space and time under conditions of risk or uncertainty. Finance can be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance. Matters in personal finance revolve around: Protection against unforeseen personal events, as well as events in the wider economies Transference of family wealth across generations Effects of tax policies management of personal finances Effects of credit on individual financial standing Development of a savings plan or financing for large purchases Planning a secure financial future in an environment of economic instability Pursuing a checking and/or a savings account Personal finance may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance and saving for retirement.
Personal finance may involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are: Financial position: is concerned with understanding the personal resources available by examining net worth and household cash flows. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flows total up all from the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished. Adequate protection: the analysis of how to protect a household from unforeseen risks; these risks can be divided into the following: liability, death, disability and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract.
Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning. Tax planning: the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax; as one's income grows, a higher marginal rate of tax must be paid. Understanding how to take advantage of the myriad tax breaks when planning one's personal finances can make a significant impact in which can save you money in the long term. Investment and accumulation goals: planning how to accumulate enough money – for large purchases and life events – is what most people consider to be financial planning.
Major reasons to accumulate assets include purchasing a house or car, starting a business, paying for education expenses, saving for retirement. Achieving these goals requires projecting what they will cost, when you need to withdraw funds that will be necessary to be able to achieve these goals. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which will subject the portfolio to a number of risks. Managing these portfolio risks is most accomplished using asset allocation, which seeks to diversify investment risk and opportunity; this asset allocation will prescribe a percentage allocation to be invested in stocks, bonds and alternative investments.
The allocation should take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person. Retirement planning is the process of understanding how much it costs to live at retirement, coming up with a plan to distribute assets to meet any income shortfall. Methods for retirement plans include taking advantage of government allowed structures to manage tax liability including: individual structures, or employer sponsored retirement plans and life insurance products. Estate planning involves planning for the disposition of one's assets after death. There is a tax due to the state or federal government at one's death. Avoiding these taxes means that more of one's assets will be distributed to one's heirs. One can leave one's assets to friends or charitable groups. Corporate finance deals with the sources of funding and the capital structure of corporations, the actions that managers take to increase the value of the firm to the shareholders, the tools and analysis used to allocate financial resources.
Although it is in principle different from managerial finance which studies the financial management of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms. Corporate f