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Discuss the importance of performance appraisals and briefly describe the common characteristics of an effective performance appraisal system?

Test your Knowledge (Question):
Question 1
In your own words, define performance management system and briefly describe each of its components.?
Question 2
Define an effective reward system from your point of view and discuss its impact on the organization.?
Question 3
Discuss the importance of performance appraisals and briefly describe the common characteristics of an effective performance appraisal system?
Instructions:
1-Answer the given question in your (own word) – No plagiarism, No match, please.