Monday, April 24, 2017

The Monthly Performance Insight: Take a Holistic Approach to Performance Management Apr. 2017

Managing performance means understanding results, setting metrics, fixing plans, and making decisions to ensure it happens.

Corporate Performance Management is a management control from strategy till shop floor. "If you can't measure, you can't manage," legendary management guru Peter Drucker once asserted. He was right. Managing performance means understanding results, setting metrics, fixing plans, and making decisions to ensure it happens. It takes multifaceted approaches from multidimensional perspectives.

Take a Holistic Approach to Performance Management

Business Performance Measurement: How to Take a Holistic Approach? As Drucker wisely pointed out, “you can only manage what you measure.” The purpose of defining performance metrics is to monitor the business progress and performance. But there are two levels of performance measurement: at the strategic level, organizations concern about the long-term business result, business capability building, customer satisfaction and employee engagement; at the operational level, business needs to take care of quarterly financial result, employees’ weekly report, customers’ purchasing transaction and more. So how shall you not only measure right but measure the right things right??

The Performance Quadrants of Running the Digital Organization Forward-looking organizations are on the journey of digital transformation. Digitalization is not a single dimensional effort to using the cool digital technologies, but a multi-dimensional pursuit to embed digital into the very fabric of the business, and run a high-effective, high-responsive, and high mature digital organization.  The dynamic digital organizations today need to get away from letting things fall through and start creating an “integrated wholes” by utilizing the dynamic processes to build the differentiated business competency, bridging the chasm between strategy and execution, and achieve the high-performance business result. If you can only manage what you measure, here are the principles to set performance quadrants for assessing the status of the digital transformation of the business?

Three Aspects of Measuring Organizational Maturity Organizations today are over-complex and hyper-competitive, management continues to keep the business running, but the lack of insight on how well their organization is doing for the long term. Is it functioning well or dysfunctional? Which management metrics shall you apply to measure organizational overall health and maturity? Who and what tools are being applied to measure if an organization is healthy or sick? Proactive or reactive? Intelligent or dumb? Customer-centric or operational driven?

What are the Characteristics of a Robust Performance Management System (PMS) Although almost all organizations understand how crucial their people factors are for the ultimate business success. Still, many of them treat their talent as cost and resource only, their performance management is process driven and out of dated to assess, motivate and measure staff performance objectively. What are the characteristics of robust performance management system (PMS) more specifically?

Going Digital Systematically Going digital is a no brainer. If so, then why are so many companies still hesitated to go radical digital? Why are there so many companies not taking advantage of customer-facing opportunities to digitize interactions with digital technologies? Even during the journey, shall you continuous check: Are you doing the right things? Are you doing them the right way? Are you doing them well? Are you achieving the desired outcomes? Are you transforming to be ready for the future? Are you shaping the good digital strategy about the future and positioning appropriately for your place within it? Do you have enough resource to implement the digital strategy? Are the assumptions and risks understood and manageable

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