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Performance Management

About Business Performance Management (E)

 

Performance Management

How do you transfer your Vision Statement into your Business Strategy? How do you transfer your Business Strategy into Business Objectives? How do you assign Responsibility for Result?

 

Posted: Nov 2007


Every organization, whether profit or non-profit, has it's own Vision Statement, meaning a destination place or state where an organization wants to be. To be able to achieve a Vision statement destination, an organization has to conduct it's Mission that will bring them to their Vision. In order to conduct their Mission every organization has to have developed Business Strategy that will enable organization to conduct Mission that will lead them to their destination – a Vision.

Strategy originally is an Art of War. Somebody might not like the militaristic approach to the business, but some parallels in organization are undeniable. Throughout the history, the military was always ahead the civilian organization. This means that military research always provide the newest advanced technology. Organizational structure was strictly defined. Procedures were defined. Discipline was at high level. Responsibility was assigned to individuals and groups. All activities are promptly planned, executed, the results actions were evaluated. Improvements were planned. Success was always rewarded. Failure was sanctioned.

In order to execute the Mission, the Organization develops and deploys the Strategy. The Strategy is defined by annual business plan, and describes what this organization wants to achieve in the next period, e.g. the growth, sales, revenue, profit, organizational changes, development, image, ...



In many ways, all successful organizations work on the same principle. Organization has to know what they want to achieve on long term and short term. Organization needs to know how to do it, when to do it. It needs to know how to capture planned part of market share, how to keep it from competition, and how to milk it. It knows what resources does it requires. It knows what are expectations or results and how to measure them. Organization knows how to motivate the people. Organization always tries to develop, to evolve in order to maintain the growth.

In order to execute the Mission, the Organization develops and deploys the Strategy. The Strategy is defined by annual business plan, and describes what this organization wants to achieve in the next period, e.g. the growth, sales, revenue, profit, organizational changes, development, image, ...

This complex network of Business Performance Management activities breaks down per functions, and further more to units and individuals within every function. Mission defines every team’s area of activity.

Performance Management

 

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