Final answer:
The appraisal tool with specific behaviors for gradations of performance is known as Behaviorally Anchored Rating Scales (BARS), which is different from 360-degree feedback, and is crucial for effective performance appraisals.
Step-by-step explanation:
The appraisal tool that generally contains a set of specific behaviors representing gradations of performance used as common reference points for rating employees on various job dimensions is known as Behaviorally Anchored Rating Scales (BARS). Unlike 360-degree feedback, which involves multiple raters such as supervisors, peers, and customers providing feedback on an employee's performance, BARS focuses on specific examples of employee behavior to rate performance levels. Performance appraisals such as BARS are essential for organizations to motivate employees to improve and to assess their job performance effectively.