Performance management- what it is?
2 July 2021
What is Strategic Performance Management?
Strategic performance management is about creating an environment in which organizational performance becomes everyone’s everyday job. This involves a clear understanding of the strategic direction and competitive advantage by everyone in the organization as well as their accepted responsibility to continuous refinement of this strategic direction. In such an environment employees use performance indicators to test and challenge the strategic assumptions that underlie performance. Relevant performance indicators are collected to inform strategic decision making at all organizational levels, and not merely to put them into reports that no-one really cares about.
Strategic Performance Management (SPM) is therefore defined as the organizational approach to define, assess, implement, and continuously refine organizational strategy. It encompasses methodologies, frameworks, and indicators that help organizations in the formulation of their strategy and enable employees to gain strategic insights which allow then to challenge strategic assumptions, refine strategic thinking, and inform strategic decision making and learning.
The Top 5 Manufacturing Trends In 2023
Global manufacturing and industry are still reeling from the disruption of recent years, with supply chain and workforce disruption still key issues.[...]
AI And You: How ChatGPT Can Take Your Career To The Next Level
Generative AI is causing a big buzz at the moment. The ability of tools like ChatGPT and Dall-E 2 to create text and images from simple[...]
The 7 Most Successful Business Models Of The Digital Era
The first two decades of this century are characterized by digital entrepreneurs upending traditional business models in search of new ways of creating revenue and serving customers.[...]
How To Drive Corporate Innovation And Outpace Startups
Startups are often considered the natural wellspring of industrial innovation.[...]
What Tech Trends Should Companies Focus on in 2023? Here Are Three to Consider (And One to Ignore)
It’s common to hear it said that today, in order to thrive, every business needs to become a tech business.[...]
Bringing Real-Time AI To The Core Of Your Business
Artificial intelligence (AI) is big news right now thanks to a wave of viral applications such as ChatGPT and Dall-E, which have captured the public’s imagination.[...]
- Get updates straight to your inbox
- Join my 1 million newsletter subscribers
- Never miss any new content