Strategic Performance Management

business engineered grayStrategic Performance Management is crucial for businesses as it helps them monitor, measure, and optimize their performance in alignment with their strategic objectives. It involves setting performance targets, tracking progress, identifying performance gaps, and taking corrective actions to achieve desired outcomes.

Here are several key reasons why strategic performance management is important for businesses:

  • Goal Alignment: Strategic performance management ensures that the performance of the organization, its functions, units, and employees is aligned with the overall strategic goals and corporate objectives for the year. It provides a mechanism to translate strategic objectives into measurable targets, key performance indicators (KPIs), and action plans. This alignment helps ensure that everyone in the organization is working towards the same goals and that resources including Human Resources are effectively utilized to achieve those objectives.
  • Performance Measurement: Strategic performance management provides a systematic approach to measure and assess the performance of the organization, its processes, and its employees. It enables businesses to collect and analyze relevant data and information to evaluate their progress toward achieving their strategic objectives. Performance measurement allows businesses to identify areas of success and areas that need improvement, providing insights for informed decision-making. The methodology helps avoid over-analysis of data and the analysis/paralysis syndrome as the system selects and focuses on the relevant only metrics and data that drive the strategic goals and corporate objectives through the designed process KPIs.
  • Accountability and Transparency: Strategic performance management promotes accountability and transparency within the organization. By setting performance targets and measuring progress, it establishes clear expectations for employees and teams. It helps in identifying individual and team performance gaps and taking appropriate actions to address them. Transparent performance measurement and reporting also foster a culture of accountability, where employees take ownership of their performance and contribute to the overall success of the organization.
  • Continuous Improvement: Strategic performance management is closely tied to the concept of continuous improvement. It enables businesses to identify areas of underperformance and take corrective actions to close performance gaps. By monitoring performance on an ongoing basis and making data-driven decisions, businesses can continually optimize their operations, processes, and strategies to achieve better results over time.
  • Decision Making: Strategic performance management provides data and insights that support informed decision-making at various levels of the organization. It helps businesses to identify trends, patterns, and areas of improvement, which can inform strategic choices, resource allocation, and operational decisions. Data-driven decision-making based on performance measurement enhances the accuracy and effectiveness of decision-making, leading to better outcomes.
  • Resource Optimization: Strategic performance management allows businesses to optimize their resources, including financial, human, and operational resources. By tracking performance, businesses can identify areas where resources are being underutilized or misaligned and take corrective actions to optimize their allocation. This ensures that resources are used efficiently and effectively to achieve strategic objectives.
  • Adaptability: Strategic performance management provides insights into how the organization is performing in relation to its strategic goals. This enables businesses to assess their progress and adapt their strategies, plans, and actions based on actual performance results. It helps businesses to be agile and responsive to changes in the external environment, ensuring that their strategies remain relevant and effective.
  • The performance management system provides the ground for the implementation of a performance-based remuneration system that encourages and motivates management and staff to continuously improve performance levels.
  • Organizational Performance & Agility: Provides the ground to identify and correct or improve organizational deficiencies through targeted interventions. This will enhance effective decision-making and organizational efficiency through increased management and employee engagement.
  • Family Business: Strategic Performance Management significantly helps to resolve critical and specific family business-related issues and challenges since it focuses on measurable performance and results, reporting, and accountability – responsibility rather than emotions and privileges among family members. It ensures the smooth introduction of new generations into the family business as well as the succession process.

In conclusion, strategic performance management is critical for businesses as it enables them to align their performance with strategic objectives, measure progress, promote accountability, support data-driven decision-making, facilitate continuous improvement, optimize resources, and adapt to changes. It helps businesses achieve their strategic goals, improve performance, and drive long-term success.

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Download our New Free Ebook – Applied Business Performance Handbook

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Here are the 15 most common symptoms that show that an organization or a business is not implementing effective Strategic Performance Planning and can significantly benefit by doing so:

  • Owners and managers need to apply a lot of pressure on a daily basis to achieve the intended results. Many times, this leads executives and other staff to exhaust working hours, excessive supervision and follow-up.
  • Large fluctuations in sales, profitability, and expenses from period to period. Also, there is difficulty or a long delay in identifying the real causes of the results.
  • The financial results at the end of each period are outside the forecasts.
  • Department managers and staff are unaware of their own work affecting the results of other departments.
  • There is a long delay in the development and implementation of actions to improve the results when these are not as expected.
  • Difficulty for managers to direct or when needed to redirect company resources in one direction.
  • There is a lack of cooperation between managers and other staff resulting in negatively affecting results.
  • There is great resistance to change even when the results are not as expected and there is a need for change. Long delays are observed even for small changes let alone for larger ones.
  • Difficulty and delay in making decisions.
  • Delay in identifying relevant information, metrics, and data that require a change in strategy.
  • Constant pressure for a salary increase regardless of the performance of both the company and the people.
  • Low morale, stress, and burnout among management and staff and blame gaming.
  • Slow reaction when new developments and new data appear, especially from competition or the external environment of the business.
  • HR is a cost to the company rather than an investment. It deals mainly with processing issues and tasks rather than important issues related to the targeted development of people in line with the real needs and goals of the business. There are no measurable performance indicators for the sector and its operations.
  • In a family business, privileges (position, pay, hours, etc.) prevail instead of responsibility and skills. Institutions for corporate governance are missing. There are no clear plans for succession and integration of new family members.

 

Our uniques Consulting Program includes the following step by step elements:

  • Definition of a compelling and inspiring vision, mission statement and values.
  • Interpreting the vision and mission statements in the context of employees’ positions, from senior management to front line employees, so that everyone connects with the vision, is empowered and motivated to engage and take initiative for action. How do you communicate the vision and mission, and how do you evaluate whether the communication was effective?
  • Explain the values in terms of daily behavior and leadership.
  • Master the strategic tool of the Balanced Scorecard.
  • Master the most widely used strategic analysis tools, including SWOT and STEEPL analysis, VRIO analysis, Business Canvas, Blue Ocean strategy model, Ansoff matrix, value chain analysis.
  • Learn and practice how to formulate and set strategic objectives in line with the vision and mission.
  • How to select appropriate strategies. Various strategic models are explained in depth.
  • Define specific, measurable, and time-bound business objectives consistent with strategic goals and objectives.
  • Define specific, measurable, and time-bound process, unit, departmental KPIs in alignment with business objectives. Both quantitative and qualitative KPIs are analyzed. How to select the relevant driving KPIs.
  • Identify the driving processes behind the KPIs. How each KPI drives the company’s financial results.
  • Determine the metrics for the KPIs and develop the data analytics and dashports to monitor performance levels.
  • Analyze and assess the organizational structure to determine the need for interventions and changes to make the organization more effective and more agile. Create a sound and effective reporting and accountability framework.
  • Create actionable action plans to drive, change, improve processes that lead performance results.
  • Utilizing the above find out how you can create and maintain an inclusive performance minded culture.

 

Get ahead of the competition with our results-driven performance management consulting.

Our expert consultant has a proven track record of delivering measurable results, helping organizations to achieve sustainable growth and success.

We have extensive experience working with organizations of all sizes and industries and will provide you with a customized approach tailored to your specific needs.

Unlike big consulting firms, we offer personalized attention and flexibility, ensuring you receive the attention and support you deserve. We will work closely with you to develop a comprehensive performance management strategy and plan that aligns with your organizational goals and values and will guide you through every step of the implementation process. With our expert consultant, you’ll receive the same level of expertise and professionalism as big consulting firms, but with the added advantage of personalized expert attention throughout the process and affordability.”


Our values and brand identity as strategic implementation consultants are:

  • Results-oriented: Our core value is focused on achieving measurable results for our We have a track record of helping clients achieve their goals through effective planning and implementation.
  • Client-centric: We place the needs of our clients at the center of everything we This means listening carefully to clients’ concerns and tailoring our services to meet their specific needs.
  • Collaborative: We work closely with clients to develop strategic plans and implementation strategies. This requires building strong relationships with clients and fostering open communication.
  • Innovative: Innovation is our religion. We challenge traditional thinking and embrace new technologies and methodologies to help clients achieve their goals.
  • Trustworthy: We are known for our honesty, integrity, and transparency. Clients trust that we always act in their best interests at all times.
  • Professional: We maintain a high level of professionalism in all of our dealings with clients. This includes being responsive, reliable, and delivering high-quality work always on time pr sooner.
  • Strategic: We, ourselves operate our Company on the same strategic performance management terms. We are known for our ability to help clients not only develop effective strategies and solutions but most importantly for our ability to guide throughout the implementation process that eventually drives results, growth and success.


Our most recent portfolio of projects includes:

  • A leading FMCG manufacturer and distributor with export orientation
  • A leading Telecommunications Company
  • A leading manufacturing com[any exporting 95% of their products
  • Two leading professional services Companies. One in legal services and one is Engineering Consulting
  • Two Tech and Software Development  Companies
  • A leading Logistics Company serving among other clients, large international companies in 3PL

 

Recent Clients – Strategic Performance Management

strategic performance management

 

For more Information contact us!

Download our New Free Ebook – Applied Business Performance Handbook

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