Journal of Management Information and Decision Sciences Volume 24, Special Issue 1, 2021 1 1532-5806-24-S1-99 Citation Information: Giriraj, K., Hashim, N.A.A.N., Ramlee, S.I.F., & Ashifa, K.M. (2021). A comprehensive study of performance appraisal of the business entity. Journal of Management Information and Decision Sciences, 24(S1), 1-10. A COMPREHENSIVE STUDY OF PERFORMANCE APPRAISAL OF THE BUSINESS ENTITY Giriraj Kiradoo, Government of Engineering College Nik Alif Amri Nik Hashim, Universiti Malaysia Kelantan Shah Iskandar Fahmie Ramlee, Universiti Malaysia Kelantan K.M.Ashifa, Istanbul GelisimUniversity- Istanbul ABSTRACT Purpose: Performance appraisal is described as the measurement of outcome to generate reliable data on its effectiveness and efficiency. Performance appraisal measures the business activities and implements a strategy to bring them back to the desired position. This paper is useful in presenting a systematic understanding of the performance appraisal concept of the business entity. Research Methods: The Study of performance appraisal of a business entity has been performed using the literature review and case study analysis, interviews, and personal observation as the secondary source of data. Findings: It could be interpreted that the selection of methodology for performance appraisal should be based on the objective, strategy, mission, and vision of the company. The performance indicators could be financial and nonfinancial. Therefore, for a precise performance appraisal, the purpose and subjective methods needed to be combined based on the organisation's requirement. Conclusion: The performance appraisal's primary objective is to measure the business working by aligning the long term and short-term strategy. Long-term performance reflects the vision, while short term business performance is related to operations. The performance appraisal method should create an alignment between the measurement of procedures and strategies. Keywords: Performance Appraisal, Performance Appraisal Criterion, Performance Appraisal Techniques, Performance Appraisal Process, Performance Appraisal System INTRODUCTION The research paper has been designed to study the concept of performance evaluation for the business entity (Albanese, 1978). The study's primary purpose is to understand how performance assessment or financial analysis affects overall growth and performance. In enterprise management, the commercial decision is considered arduous (Erich, 1977). Increasing overall performance and running effectively with available financial resources is one of the best tools to regulate such processes with limited resources. Although considerable research has been done on this topic, some conclusions regarding companies' performance evaluation and effectiveness have still been drawn. It is necessary to review the matter critically. It has been planned to do research with data collected and presented in theoretical formats through literature review, industrial analysis, and personal observation. METHODS OF RESEARCH The following methods have been adopted for research to get a complete insight into the organisation's (Francis, 1980). overall performance appraisal scenario.