Saturday, February 15, 2020

The Monthly “Performance Master” Book Tuning: Performance Management Continuum Feb. 2020

It takes multifaceted approaches from multidimensional perspectives to unlock digital performance and catalyze change.

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

        Performance Management Continuum 

Digital Performance Management as an Iterative Management Continuum Enterprise Performance Management is a multidisciplinary management system to run numbers in context, leverage data to tell stories. The ultimate goal of performance management is to implement business strategy effectively through well defining the right set of measures at both strategic and tactical levels. Without measurements, it can be hard to tell whether attempted improvements achieve the expected results or not. The whole issue is to have a starting point and the performance metrics that come first at a strategic level are doing the job well for achieving the defined goals. With the increasing pace of changes and dynamic business planning, digital performance management is not composed of some linear steps, but an iterative management continuum.

Digital Management as Strategy- Change-Performance Management Continuum Performance-based management requires that the communication and measurement of performance are an integral part of an ongoing process and not an annual, quarterly, or monthly event. Enterprise performance management is about how organizations manage performance at both strategic and operational levels to achieve well-set business goals and objectives.

Performance Glues and Management Continuum With the increasing pace of changes and dynamic planning, performance management is a multidisciplinary management system running number in context; it is important to define and prioritize your constellation of business goals, take into account both financial and non-financial measures, assess internal improvements, past outcomes and ongoing requirements as indications of future performance. It is also important to connect the dots between performance management and other management disciplines and glue up all crucial ingredients to manage performance as an iterative management continuum.

The Continuous Performance Management Corporate Performance Management is needed for all organizations as a way of living, what is the reason for their existence and how and what. Corporate Performance Management is also a management control from strategy to the shop floor in both a qualitative and quantitative way. Due to the digital nature of hyper-connectivity and interdependence, organizational management practices are shifting from silo-based, reductionistic traditional management style to the holistic digital management discipline. The corporate performance management also needs to do the similar adjustment, to ensure the individual performance is assessed objectively and the corporate performance is evaluated holistically, to ensure the business as the whole is superior to the sum of pieces.

Adapt to Digital New Normal and Manage Proactive Business Continuum It is a complex world out there with so many variables that determine the success of the business. Closer to reality is that digitalization is a journey, not just a destination, and change is continuously happening in such a dynamic environment of a company. The leading businesses across the vertical sectors are the ones that can adapt to the digital new normal and manage the proactive business continuum.

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