Performance Management SystemName:Grade Course:Tutor`s Name:(24 September 2011)Performance Management SystemH&M are the initials for Hennes & Mauritz a Swedish clothing company that has perfected its performance management systems to emerge as one of the world`s leading fashion companies. The company provides fast fashioned clothing for men, women, children and the teenagers. It has grown from a single retail to being a global distributor of cloth with more than 1700 stores and operating in more than 33 countries (H&M Sustainability Report, 2008).H&M was set up by Erling Persson in 1947, and used to trade in women clothing also known as Hennes which is the Swedish term for “Hers`. It was not until 1968 when the word changed to H&M after the acquisition of the store Mauritz Wildforss, which dealt with the delivery of men clothing (About H&M, 2011). This time H&M ventured into men`s clothing thus broadening its scope fashion in the clothing industry.The company operates in five continents i.e. North and South America, Europe, Oceania, Asia and Africa. This is quite an achievement and a show of an effective and efficient performance management system that the company has since it has been able to expand and grow tremendously (About H&M, 2011).The mission of H&M is to always provide “fashion and Quality at the best price”. The comp...