Answer:
PERFORMANCE MANAGEMENT is an ongoing process not periodic
PERFORMANCE APPRAISAL is a periodic activity
PERFORMANCE MANAGEMENT is aimed at the overall growth of the employees in terms of knowledge,skills etc
PERFORMANCE APPRAISAL is usually aimed at compensation and efficiency.
PERFORMANCE MANAGEMENT is a process
PERFORMANCE APPRAISAL is a system
PERFORMANCE MANAGEMENT involves multiple stakeholders
PERFORMANCE APPRAISAL involves the HR and Direct managers
Explanation: PERFORMANCE MANAGEMENT comprises of the overall processes involved in managing an employees development,growth,skills in order to ensure efficient performance of the entire team.
PERFORMANCE APPRAISAL is a periodic management system of evaluating its work force to determine compensation and improve efficiency, performance appraisal is part of the overall performance management approach.