When goal setting, performance appraisal, and development are consolidated into a single, common system designed to ensure that employee performance supports a company’s strategy, it is called _____.

Performance management is the process businesses use to ensure productive employee activities and results. The business tries to incentivize actions that are in line with the organization's objectives.
 

Effective performance management systems typically include the following three broad components: goal setting, performance review and a performance improvement plan.